LTH Cost Basis Distribution

The Bitcoin LTH Cost Basis Distribution maps where long-term holders acquired their coins. It restricts the address-weighted cost basis distribution to Long-Term Holder supply, meaning only coins that have remained unmoved for at least 155 days. Each address is bucketed by its weighted-average cost basis across its LTH UTXOs, and the resulting histogram is plotted across price, showing how much seasoned-holder supply sits at each acquisition price level.

Read the chart as a price-axis heatmap of conviction. Brighter or taller bands mark price levels where a large share of long-term holders established their cost basis. Because the distribution counts only coins older than 155 days, it isolates the behavior of the network's most patient participants and strips out short-term traders and recent speculative flows. Clusters that sit well below the current price represent holders in deep profit, while bands near or above spot mark cohorts closer to break-even.

Use the distribution to locate where seasoned Bitcoin conviction is concentrated and where distribution may be underway. When dense LTH bands sit far under price, long-term holders are holding through profit rather than selling. When cost-basis mass builds close to the current price, it can signal fresh long-term accumulation or an emerging support zone worth watching against spot.

Check the selected asset, units, and cohort before comparing readings. Compare the metric over consistent dates and use related measures to understand what contributes to a change.