Indicator Overview

The indicator measures the ratio of sale price to acquisition cost for coins moved on-chain by Short-Term Holders (STH). The displayed value is mirrored around the break-even line of 1.0, with a value of zero on the chart corresponding to SOPR = 1.0. Positive values indicate that short-term sellers are in profit, and negative values mean they are realising losses. The colour gradient from deep rust to orange/yellow highlights periods of increasingly significant STH profit realisation.

How To Use

The STH SOPR is highly effective for identifying trend continuation and exhaustion in short timeframes. When the indicator's mirrored value repeatedly bounces off the zero line (SOPR = 1.0) from below, it signals that losses are being fully realised, often preceding a major relief bounce or trend reversal (capitulation). Repeated moves above zero (SOPR > 1.0) which begin to trend downward suggest short-term holder profit-taking pressure is becoming exhausted, often marking potential local tops or mid-cycle corrections.