2026-02-05
STH-NUPL: -47.88%.
Bitcoin price in the same daily row: $62,795.00. The cohort had a net unrealized loss under this model.
BTC: STH-NUPL
Short Term Holder NUPL: net unrealized profit or loss.
Latest daily observationProvisional day
- STH-NUPL
- 8.96%
- Bitcoin price
- $82,181.97
Observation: UTC. Dataset updated: .
Updated daily, normally at 09:30 Europe/Madrid. Latest hourly bucket starts 2026-10-22 07:00 UTC (hour start).
This day is incomplete and may change. Daily flows accumulate through the latest update; they differ from a single hourly point.
Data cross-checked. Derived from STH-MVRV, which is cross-checked daily against an independent on-chain data provider: median difference 0.53% over 1,384 days (2023-01-01 to 2026-10-15); 95% of days within 2.07%. Checked 2026-10-22. Data status
Recent daily values
The last seven closed UTC days. These values remain daily when you change the chart range.
| Date (UTC) | STH-NUPL | Bitcoin price |
|---|---|---|
| 2026-10-21 | 10.94% | $84,023.24 |
| 2026-10-20 | 9.94% | $82,946.03 |
| 2026-10-19 | 8.80% | $81,840.01 |
| 2026-10-18 | 9.06% | $82,001.58 |
| 2026-10-17 | 8.38% | $81,384.63 |
| 2026-10-16 | 8.46% | $81,501.10 |
| 2026-10-15 | 9.21% | $82,131.10 |
Formula
STH-NUPL = (market value − realized value) / market value = 1 − 1 / STH-MVRV.
How to read it
Positive NUPL indicates an aggregate unrealized gain under the model; a negative value indicates an aggregate unrealized loss. Values are displayed as a percentage of market value, rather than a return on acquisition cost.
Limitations
- NUPL and MVRV express the same underlying relationship in different units. They are not independent confirmations of a trading signal.
- On-chain movements include transfers between an owner's own wallets. They do not establish actual purchases, sales or investor identity.
- The latest day is provisional. Data is updated daily; hourly resolution does not mean hourly publication.
Historical examples
Selected mechanically: the lowest and highest closed-day STH-NUPL in the available history (2023-01-01 to 2026-10-21). These are observations, not forecasts or trading signals.
2024-03-04
STH-NUPL: 30.14%.
Bitcoin price in the same daily row: $68,091.84. The cohort had a net unrealized gain under this model.
Download these closed daily observations (JSON)
Source: Computed from the chain (BigQuery public dataset crypto_bitcoin), hourly resolution. Price source: Bitstamp BTC/USD hourly candles. rows before 2025-10-06 computed with daily prices (Coin Metrics); hourly prices from then on Methodology and sources.