2026-01-23
STH-SOPR: 0.9454.
Bitcoin price in the same daily row: $89,493.00. Spent outputs were valued below their value at creation in aggregate; this does not identify actual sales.
Spending activity
STH-SOPR
Value at spend divided by value at creation for young outputs.
Latest daily observationProvisional day
- STH-SOPR
- 1.0013
- Bitcoin price
- $82,448.31
Observation: UTC. Dataset updated: .
Updated daily, normally at 09:30 Europe/Madrid. Latest hourly bucket starts 2026-10-09 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.
Recent daily values
The last seven closed UTC days. These values remain daily when you change the chart range.
| Date (UTC) | STH-SOPR | Bitcoin price |
|---|---|---|
| 2026-10-08 | 0.9976 | $81,676.02 |
| 2026-10-07 | 0.9990 | $83,274.86 |
| 2026-10-06 | 1.0034 | $85,553.52 |
| 2026-10-05 | 1.0049 | $85,756.06 |
| 2026-10-04 | 1.0018 | $86,510.16 |
| 2026-10-03 | 1.0020 | $84,746.87 |
| 2026-10-02 | 1.0079 | $84,500.84 |
Formula
STH-SOPR = Σ(spent young BTC × price at spend) / Σ(spent young BTC × price at creation).
How to read it
A ratio above 1 means the aggregate value at spend time exceeds the value at creation; below 1 means the opposite. The daily ratio aggregates the entire day. The chart also shows an arithmetic seven-day moving average.
Limitations
- Daily SOPR is a ratio of summed values, not an average of hourly ratios. No-spend periods have no ratio. The pipeline does not exclude outputs spent within one hour.
- 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-SOPR in the available history (2023-01-01 to 2026-10-08). These are observations, not forecasts or trading signals.
2024-03-13
STH-SOPR: 1.0765.
Bitcoin price in the same daily row: $73,081.58. Spent outputs were valued above their value at creation in aggregate; this does not identify actual sales.
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.