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BTC - Percent UTXOs in Profit

Description

The Bitcoin UTXO Percentage in Profit shows the percentage of the UTXOs in the BTC ledger with unrealized profits. How much profit each UTXO has is not considered.

Bitcoin's USD Market Price is included for reference.

Pseudocode

for each block in blockchain:
  block.price := btc_usd_price(block.time)
  block.total_utxos := count(ledger.utxo[])
  block.utxos_in_profit := count(ledger.utxo[utxo.cost_basis < block.price])
  block.percent_utxos_in_profit := block.utxos_in_profit / block.total_utxos
  (x,y) := (block.time, block.utxos_in_profit)

for each hour in blockchain:
  hr_profit_perc := first(blockchain[hr_start:hr_end].percent_utxos_in_profit)
  (x,y) := (hour, hr_profit_perc)

for each day in blockchain:
  day_profit_perc := first(blockchain[day_start:day_end].percent_utxos_in_profit)
  (x,y) := (day, day_profit_perc)

Technical Info

During all-time high price discovery, all UTXOs are in profit. The percentage of UTXOs in profit stands structurally in contrast to the UTXO count, on which it's based.

  • This metric is based on transactions (unadjusted).
  • OP_RETURN (Null Data) TXOs are designed to be excluded from the ledger, and are omitted from this metric.
  • Hourly and daily aggregations are derived from block data using open for this metric. Open grouping uses the first data after a given time to represent that time.
  • Hourly data contains occasional gaps; no blocks were generated during these times.

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