Bitcoin Long-Term Holder Short-Term Holder Cost Basis Ratio

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The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

We have mentioned the cost basis ratio of bitcoin’s long-term holders (LTH) and short-term holders (STH) a numerous amount of times in our previous analysis.

For an introduction to the metric, read The Daily Dive #070 – Short-Term:Long-Term Cost Basis Ratio.

A TLDR:

When the STH:LTH realized price ratio is increasing, it means that the cost basis of STHs is increasing relative to LTHs, and conversely, when STH:LTH realized price ratio is decreasing, the cost basis of LTHs is increasing relative to the cost basis of STHs.

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