Old Coins Move at a Loss as LTH-SOPR Falls to 0.94

Old coins are moving at a loss while LTH Supply declines.

Bitcoin LTH-SOPR Falls to 0.94

LTH-SOPR measures the average profitability of coins moved by long-term holders. It has remained in loss territory for eight consecutive days. This means old coins moved below their acquisition cost on average.

Similar readings have occurred over the past year. The speed of the current shift into loss realization stands out. Watch for LTH-SOPR to recover above 1.

LTH Supply Continues to Decline

LTH Supply is declining. It now stands at 16.3 million BTC. It has fallen by 171.7K BTC over the past month.

Coins can cross the 155-day holding threshold as they age, so a change in LTH Supply does not necessarily require a purchase or sale. Watch whether the decline continues.

FAQ

What Followed the Previous Similar LTH-SOPR Reading?
A similar reading occurred on August 22, 2026. Bitcoin traded at $77,075 at the time. A month later, the price was 12.4% higher. This is historical context, not a forecast.

How Often Is LTH Supply This High?
Over the past year, LTH Supply was at least this high on 47% of days.

Conclusions

Both metrics support a correction scenario. The monthly decline in LTH-SOPR was among the sharpest of the past year. Old coins are still moving at a loss. The assessment would turn neutral if those movements returned to profit territory.

Live Charts

Explore the metrics behind this brief with live, auto-updating charts:

Holder Behavior — All holder profitability and supply-cohort charts in one view.
LTH-SOPR — Long-term holder profit/loss realization around the 1.0 breakeven threshold.
LTH vs STH Supply — Supply split between long- and short-term holders to track accumulation and distribution.
Realized Price — Aggregate on-chain cost basis compared with BTC price and long-term trend.