Cryp2Nova

Unrealised Topheavy Unrealisedloss LTH Topheavy Unrealisedloss LTH

Bitcoin

This metric is the share of long-term-holder realized wealth that currently sits at an unrealized loss.

Why it matters

It quantifies stress among conviction holders — how much of their capital is underwater.

How it is built

The realized value of long-term-holder coins in loss is divided by their total realized value.

What to watch

Rare spikes to high levels have marked deep bear-market bottoms where even long-term holders capitulate, historically strong buy zones.

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