URPD LTH
UTXO Realized Price Distribution filtered on Long-Term Holders (>155 days), exposing conviction supply per price bucket.
What is it?
URPD LTH decomposes BTC supply held by UTXOs older than 155 days by their cost basis. The on-chain convention defines LTH as old UTXOs statistically unlikely to be spent (spending probability drops sharply past the 155d mark). The histogram reveals the structure of old acquisitions accumulated by conviction holders: cycle base, historical supports, dormant cost basis.
How to read
Same axes as URPD STH (horizontal log price, vertical BTC supply), but the shape is structurally more spread because LTH integrates several acquisition cycles. Dense peaks identify psychological anchor buckets: levels where a large mass of conviction holders is positioned. The spot price may sit far from these clusters (mature cycle), or cross them (post-bear rebound). The Trinity rendering stacks two panels: BTC price on top (log scale + selected-date marker), URPD histogram on bottom with green/red colored bars based on position relative to spot, `% cumulative` line on the inner right axis, vertical spot marker on the X axis, and an on-canvas statistics panel displaying total and profit/loss breakdown.
Key zones
Dense LTH clusters at very low prices (past cycle bottoms) are historically the most stable buckets. Mid-price LTH clusters represent mid-cycle acquisitions. A LTH cluster close to spot indicates a mature cycle with LTH in marginal profit: potential distribution if price keeps rising. Spot below massive LTH clusters characterizes conviction-holder capitulation, rare but an extreme bear condition.
What to observe
Three patterns to watch: (1) Appearance of a new dense LTH cluster = prior bull run massively transferring STH to LTH. (2) Gradual erosion of a high LTH cluster = orderly distribution of conviction holders at cycle end. (3) A historical low LTH cluster staying unchanged over years = strong psychological anchor, long-term structural support. Crossed reading with URPD STH essential. To explore this chart in institutional mode : the default **Minimal** mode maximises data legibility (compact stats + period presets 1D/7D/1M/3M/6M/1Y/Now + precise date picker). The **⚙️ Expert** button reveals advanced tools : **🎯 Highlight profit** toggle (dims loss BTC to emphasise the support profit zone), **🔍 Hide outliers** toggle (hides the top 1% extreme spikes to zoom on the main distribution), and the clickable historical events bar with badges (▲ cycle tops, ▼ bottoms, ⚡ macro shocks). The **📊 Compare** button opens a second date picker and renders a delta summary card between the 2 snapshots (supply change, profit zone, top accumulation and top distribution per price bucket). The **📥 Export** button offers PNG (all tiers, with trinityinsights.io watermark + logo + copyright) and CSV (Performance+ only, with traceability metadata : slug, date, spot, mode, locale, generation timestamp). Keyboard shortcuts : A/D navigate dates, W/S toggle BTC↔USD, 1-7 select presets, R returns to latest snapshot, ? opens full help. The X axis carries the **acquisition price (USD)** and the inner right line shows the **% BTC cumulative** (cumulative share of BTC below each price level). The URL retains full state for sharing (`?date=YYYY-MM-DD&w=BTC|USD&expert=1&compare=YYYY-MM-DD`).
Historical context
Successive Bitcoin cycles leave lasting traces in URPD LTH. A dense LTH cluster typically persists on low buckets inherited from prior bear markets. Each halving accelerates supply transfer from STH to LTH over the months that follow, redrawing the distribution.
Expert notes
The LTH cohort contains old dormant coins (wallets inactive for very long periods) that create technical peaks without market meaning. The lowest URPD LTH buckets should be read in context: their immobility is not a guarantee of active support but may reflect structural illiquidity.
Common mistakes to avoid
Do not equate LTH with unconditional defender: some LTH clusters have capitulated during major bear markets, proving that even conviction can break under systemic stress. Read URPD LTH shape as a snapshot, not a promise of future behavior.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/urpd-cohort-lth/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "urpd-cohort-lth",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
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Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.