BTC SOPR (Spent Output Profit Ratio): 1.002
For the coins that actually moved on a given day, this compares the price they sold at with the price they were bought at. Above 1.00 those coins moved at a profit; below 1.00 at a loss. Every point shown is real up to the date on the badge above the chart.
Every coin carries the price it last changed hands at. This takes all the coins that moved today, adds up what they are worth now, and divides by what they were worth when they last moved — one number for the average profit or loss on today's spending.
For example, 1.05 means coins sold that day changed hands for about 5% more than their owners paid, so people were taking profits. 0.97 means the average coin that moved sold at a 3% loss, which people **only** accept when they have given up.
The 1.00 line is break-even for the coins that moved, and the value crosses it constantly — 298 crossings since July 2022, about 74 a year, typically two days apart — because it oscillates around break-even by construction. It describes what the coins that moved did that day, not what price does next.
In words: the value of the coins moved today at today's price, divided by their value at the price they last moved at [selling price ÷ buying price, across every coin moved that day]. Computed in-house from our own Bitcoin node's realized cap — the value of every coin at the price it last moved at, which can only be obtained by reading the whole chain.
Every point on screen is real and complete up to the date on the badge **above** the chart. The outside feed that supplied them is switched off for good; **our own Bitcoin node** — a full copy of the blockchain that we run ourselves — is recounting this series from the very first block, and new points resume once that finishes.
Coins simply shuffled between a person's own wallets look identical to real selling, and one large old holder moving funds can swing a whole day's reading.
bitcoin-data.com (BGeometrics) supplied every point on this chart, and each one is real up to the snapshot date shown. Safu switched that feed off for good because its licence does not let us republish the data, so no newer days and no older days will arrive from it — no paid key and no purchased history are planned. Safu's own Bitcoin node is re-reading the blockchain from 2009 to rebuild this history. Feed no longer used.
History from bitcoin-data.com (no longer collected) · daily points, 2022+ · historical snapshot, no longer updating