Cryp2Nova

Unrealised Topheavy Supplyinloss LTH Topheavy Supplyinloss LTH

Bitcoin

This 'Top Heavy Markets' view shows the percentage of long-term-holder supply currently held at a loss.

Why it matters

It flags when even conviction holders are underwater, a hallmark of deep bear markets.

How it is built

The long-term-holder supply in unrealized loss is divided by total long-term-holder supply.

What to watch

Rare high readings mark severe, top-heavy drawdowns that have historically coincided with generational bottoms.

Related metrics