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On-Chain Collection

Bitcoin: Sell-Side Risk Ratio

Realized profit and loss relative to network value — a regime indicator, not a directional signal

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Chart informationBitcoin: Sell-Side Risk Ratio

About This Indicator

Sell-Side Risk Ratio compares the total profit and loss being realized by coins moving on-chain to the size of the network (Realized Cap). It is not directional: both large-scale profit-taking near cycle tops and large-scale loss-realization during capitulation push it higher. Low readings mean coins are changing hands near their acquisition cost — a sign of market equilibrium rather than a buy or sell signal on its own.

Current Value & Interpretation

BTC price
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Sell-Side Risk Ratio
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Regime
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Waiting for Sell-Side Risk Ratio data.

Data Sources

  • Bitcoin price: CoinGecko API via backend price history
  • Sell-Side Risk Ratio: bitcoin-data.com public API (sell-side-risk-ratio) — daily on-chain realized profit/loss relative to Realized Cap

Last Updated

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Related Charts

  • Bitcoin NUPLNet Unrealized Profit/Loss estimates aggregate unrealized profit or loss across the network, approximated in this app from price and realized price.
  • SOPR Ratio (LTH/STH)Divides long-term holder SOPR by short-term holder SOPR to compare profit-taking behavior between experienced holders and newer market participants. SOPR itself measures whether spent coins are moving in profit or loss.
  • Bitcoin: Long-Term Holder Percent Supply in ProfitEstimates the share of Long-Term Holder (LTH) supply whose cost basis sits below the current price. No free source provides the full LTH UTXO cost-basis distribution this metric needs, so this chart is grounded in bitcoin-data.com's real LTH-MVRV series (price ÷ the LTH cohort's own realized price) fed through the same statistical curve used by the network-wide Percent Supply in Profit chart. Real LTH-MVRV only goes back to 2022-08 (a hard limit on this vendor's free tier); the dashed portion before that is a further estimate, fitted from the real LTH-MVRV/network-MVRV relationship over the 2022+ overlap and projected onto real network MVRV history back to 2013. Treat the solid portion as an approximation of the real metric's shape, and the dashed portion as an approximation of an approximation.
  • Bitcoin Supply Unmoved 4+ YearsTracks the share of Bitcoin's circulating supply held in addresses that have not moved coins in over 4 years, alongside Bitcoin price. This "dormant supply" grows as long-term holders accumulate and hold through market cycles, and tends to fall when old coins get spent, which has often coincided with distribution near cycle tops. Real UTXO age-band supply data, sourced from Bitview (Bitcoin Research Kit), a free public on-chain analytics API — not a proxy or model.