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Realised Netrealisedpnl Netrealisedpnl

Bitcoin

The Net Realized Profit Ratio measures the net profit or loss actually realized on-chain in a period, normalized by market capitalization.

Why it matters

It shows the intensity of profit-taking or loss-realization flowing through the network relative to its size.

How it is built

Realized profit minus realized loss is divided by market cap, converting raw realized flows into a comparable ratio across time.

What to watch

Large positive spikes mark heavy profit-taking often seen near tops, while deeply negative values mark loss-driven capitulation, helping identify sentiment and flow extremes.

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