Realised Realisedpnl Bycohort Bands Realisedpnl Bycohort Bands

Bitcoin

This measures the net realised profit and loss locked in as Bitcoin is spent on-chain.

Why it matters

It captures the intensity of actual profit-taking and loss-realization in the market.

Profit and loss at each spend are aggregated over time.

Large realised profit marks distribution near tops; realised loss marks capitulation near bottoms.