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What it measures

Percentage difference between current price and the Trader Realized Price — the unrealized profit or loss of active traders expressed as a %

How to interpret it

Extremely high margins = traders likely to start selling (overheating). Deeply negative margins = traders underwater, capitulation may be near. Crossing above/below 30-day MA = confirms positive/negative price momentum.

Key thresholds

40% = elevated, correction risk; ~7–8% = STH local top signal; 0% = breakeven (strong support in bull); –5% to –18% = distressed; –17% to –18% = extreme (seen at Aug 2024 crash and July 2024 correction, both price bottoms)

How to use it

Best as a contrarian indicator at extremes. Deeply negative = capitulation approaching. Extremely positive = overheating. Also watch vs. 30-day MA — crossing below confirms negative momentum.

Run this metric in CryptoQuant Analytics

Authorizations

Authorization
string
header
default:Bearer <YOUR_API_KEY>
required

For each API request, include the Authorization HTTP header with Bearer <YOUR_API_KEY>.

Query Parameters

window
string
default:day

Time interval for aggregation.

from
string

Starting time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.

to
string

Ending time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.

limit
integer
default:100

Maximum number of data rows to return. Ranges from 1 to 10,000.

Required range: 1 <= x <= 10000

Response

200 - application/json

Bitcoin price valuation

status
object
required

Returned with every response; indicates whether the request was successful.

Example:
result
object
required