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SOPR Ratio (LTH/STH)

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SOPR Ratio (LTH/STH) Explained

The SOPR Ratio divides the Long Term Holder SOPR by the Short Term Holder SOPR, giving a single metric that compares profit-taking behavior between long-term and short-term Bitcoin holders. The formula is:

SOPR Ratio = LTH SOPR / STH SOPR

Reading the SOPR Ratio Values


  • Ratio > 1: Long-term holders are realizing relatively more profit than short-term holders
  • Ratio = 1: Both groups are realizing profits/losses at the same rate
  • Ratio < 1: Short-term holders are realizing relatively more profit than long-term holders

You can also enable two additional SOPR Ratio moving averages from the chart legend:

  • 7-day moving average of SOPR Ratio - shorter-term trend
  • 30-day moving average of SOPR Ratio - longer-term trend


Why the SOPR Ratio Matters

The SOPR Ratio helps identify market regime shifts by comparing the spending behavior of experienced holders versus newer participants:

  • Rising ratio: Long-term holders are distributing at higher relative profits, often seen near market tops
  • Falling ratio: Short-term holders are more active in profit-taking, common during early bull phases
  • Extreme spikes: Can signal capitulation or euphoria events depending on direction

Disclaimer
Any information found on this page is not to be considered as financial advice. You should do your own research before making any decisions.

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