Bitcoin - Long Term HODLers SOPR

Bitcoin-Long-Term-HODLers-SOPR

Firstly what is LTH SOPR?

Long Term Output Profit Ratio (LTH-SOPR) is a ratio of spent outputs (lived more than 155 days) in profit at the time of the window.
It is calculated as the USD value of spent outputs at the spent time(realized value) divided by the USD value of spent outputs at the created time(value at creation).
As a result, the spectrum of UTXO coverage is 155 days<UTXOs age. 

Secondly values mean:
By Value itself
LTH-SOPR value greater than 1 ( LTH-SOPR > 1 ) - could sell in profit.
LTH-SOPR value of exactly 1 ( LTH-SOPR =1 )- could sell on neutral level.
LTH-SOPR value less than 1 ( LTH-SOPR < 1) - could sell in loss. 


Currently LTH SOPR 7D SMA value is: 0,72 which mean some of LTH could sell in loss. 
Cohorts 3m-6m, 6m-12m  are often sold their BTC in loss. LTH SOPR 7D SMA under 1 could tell us about potential forming bottom. It doesn't mean the bottom is in but worth to observe this metric.