Maketo
BitcoinBTC$83,808.41+0.46%Market moodNeutralNewsPositive

BITCOIN SOPR BY COIN AGE

Are the old hands selling at a profit?

When coins move, the chain shows the price they last moved at. This page runs that profit check for every age of coin, from a week old to ten years and up.

1 year and older: the profit ratio when they moved

5,385 daily readings since 2012

Each line is the profit ratio on coins at least that old when they moved: above the 1× line they went for more than they last cost, below it for less. The chart draws the age you pick and its two nearest rungs. A gap is a day with no reading, which usually means no coins that old moved.

Select a line to follow

+6 more in the tabs above

Inspect and compare dates

Pick two to four dates to read every group side by side.

Profit ratio by minimum coin age on each date
Coins at least this oldChangeRelative change
10 years and older212.8640203.6298−9.2342−4.3%
7 years and older45.464416.3439−29.1205−64.1%
5 years and older5.47535.9610+0.4857+8.9%
3 years and older3.30652.2169−1.0896−33.0%
2 years and older2.51761.6603−0.8573−34.1%
1 year and older1.58301.2819−0.3011−19.0%
6 months and older1.00361.0980+0.0944+9.4%
1 month and older1.08061.1257+0.0451+4.2%
1 week and older1.09851.1099+0.0114+1.0%
28 Sep 2026: 2 years and older 1.66×, 1 year and older 1.28×, 6 months and older 1.10×.

Right now

Coins a year and older went for 28% above what they cost.

Their ratio was 1.2819× over the past day. The oldest rung with a reading is 10 years and older, at 203.6298×, 204 times what they cost: ordinary arithmetic for coins that last moved years ago rather than a signal on its own. Every one of the nine rungs has a reading.

Every age of coinevery rung, 28 Sep 2026

Every age of coin, 28 Sep 2026
Coins at least this oldProfit ratioWhat that means
10 years and older203.6298×204 times what they cost
7 years and older16.3439×16.3 times what they cost
5 years and older5.9610×6 times what they cost
3 years and older2.2169×2.2 times what they cost
2 years and older1.6603×66% above what they cost
1 year and older1.2819×28% above what they cost
6 months and older1.0980×9.8% above what they cost
1 month and older1.1257×13% above what they cost
1 week and older1.1099×11% above what they cost

Each row includes every coin older than it: the one-week row counts every coin over a week old, the one-year row every coin over a year. The rows overlap by design, so they are never added together and none of them is a share of the others.

What changed

vs 30-day averageThe 10 years and older rung read 65% below its 30-day average, 203.6298× against 589.0858×, over 30 days of readings.

who sat stillEvery one of the nine rungs has a reading on . The last day a rung had none was : 10 years and older.

since a month agoFour of the nine rungs with a reading on both days are higher than on . The 7 years and older rung changed most, from 45.4644× to 16.3439×.

Keep in mind

01The rows overlap. Each rung counts every coin at least that old, so the one-week rung already contains the one-year rung and everything above it. They are never added together, and no rung is a share of the others.

02A gap usually means no coins moved. On a day with no reading a line has no point to draw. That usually means no coins of that age moved, the old hands sitting still, rather than data gone missing.

03Big multiples are arithmetic. A ten-year-old coin moving at hundreds of times what it last cost is ordinary, because it last moved when Bitcoin cost very little. What is worth watching is the change in a rung, not its size.

04Moving is not selling. These figures count every coin that changed addresses, including coins someone shuffled between their own wallets and the change that comes back from a normal payment. A coin is credited by how long it had sat still at the moment it moved.

For you

Most of the coins that move on a normal day are young, so the old rungs describe a small slice of the day. That slice is where a change says the most: when coins that sat for five or ten years go at a very different multiple from their usual one, holders with years behind them are acting at this price.

Read each rung against its own past, not against the rungs above it. Over the past day the year-and-older rung read 1.2819×, so coins that had sat at least that long went for 28% above what they cost. This is a record of what moved, not a call on what happens next.

Understanding
Bitcoin SOPR by Coin Age

Where it stands today

Coins at least a year old that moved over the past day went for 1.2819× what they last cost as of .

What does the chart show?

Every coin that moves carries a receipt: the price it last moved at. Compare that with the price it moves at now and you know whether it went for more than it cost or less. This page runs that check as a ladder of minimum ages, from coins at least a week old up to coins that had sat for ten years or more, one line each.

What is SOPR?

SOPR, short for spent output profit ratio, is the technical name for the check: the value of the moved coins divided by their value when they last moved. 1× is breakeven. Old coins usually post big numbers because they last moved years ago at far lower prices, so a ten-year coin going at three hundred times its old price is arithmetic, not a signal on its own.

Why do the rows overlap?

Each rung counts every coin at least that old, so the one-week rung already contains the one-year rung and everything above it. They are never added together, and no rung is a share of the others. That is also why the ladder has nine rungs rather than a set of slices: a ratio cannot be merged the way coins can, so every minimum age is measured on its own.

Why does a line stop and start again?

On a day with no reading a line has no point to draw. That usually means no coins of that age moved, the old hands sitting still, rather than data gone missing. On the very oldest rungs a few early-era moves carry no usable buy price at all, so those days show no reading too. A rung is also blank before its first reading: the oldest rung, 10 years and older, starts on 11 Oct 2020. The record holds 5,385 days for each group, from 2012.

How should you read it, and how not?

Read a rung against its own past, not against the rungs above it, and watch the change rather than the level. One honest limit: a move is not always a sale. The check counts every coin that changed addresses, including a wallet reorganizing its own coins, so read the ladder as the tone of old-coin selling rather than an exact tally.

The numbers
behind the chart

What does the current reading show?

10 years and older: the latest reading is 203.6298×, on . The highest reading since is 286619807.0000× on ; the lowest is 49.8590× on .

7 years and older: the latest reading is 16.3439×, on . The highest reading since is 3910935414.0000× on ; the lowest is 4.1309× on .

5 years and older: the latest reading is 5.9610×, on . The highest reading since is 679512.6667× on ; the lowest is 1.4182× on .

3 years and older: the latest reading is 2.2169×, on . The highest reading since is 4414361.0000× on ; the lowest is 0.8102× on .

2 years and older: the latest reading is 1.6603×, on . The highest reading since is 346602.0000× on ; the lowest is 0.4337× on .

1 year and older: the latest reading is 1.2819×, on . The highest reading since is 425419.0000× on ; the lowest is 0.2647× on .

6 months and older: the latest reading is 1.0980×, on . The highest reading since is 345.0548× on ; the lowest is 0.2081× on .

1 month and older: the latest reading is 1.1257×, on . The highest reading since is 23.1963× on ; the lowest is 0.2948× on .

1 week and older: the latest reading is 1.1099×, on . The highest reading since is 7.7858× on ; the lowest is 0.4153× on .

Every figure is one rung's profit ratio on the day: the value the moved coins went for, divided by what they last cost. The nine rungs overlap by design and are never added together. A day with no reading usually means no coins that old moved.

What are the latest, highest and lowest readings?
Profit ratio when they moved by minimum coin age: range since 1 Jan 2012
MeasureLatestHighestLowest
10 years and older203.6298×286619807.0000×49.8590×
7 years and older16.3439×3910935414.0000×4.1309×
5 years and older5.9610×679512.6667×1.4182×
3 years and older2.2169×4414361.0000×0.8102×
2 years and older1.6603×346602.0000×0.4337×
1 year and older1.2819×425419.0000×0.2647×
6 months and older1.0980×345.0548×0.2081×
1 month and older1.1257×23.1963×0.2948×
1 week and older1.1099×7.7858×0.4153×
How do the readings compare with earlier dates?
Profit ratio when they moved by minimum coin age: earlier readings
Reference date10 years and older7 years and older5 years and older3 years and older2 years and older1 year and older6 months and older1 month and older1 week and older
1 month ago212.8640×45.4644×5.4753×3.3065×2.5176×1.5830×1.0036×1.0806×1.0985×
3 months ago137.4638×19.9893×5.1641×2.4096×2.0300×1.3473×0.8753×0.8485×0.8669×
6 months ago548.5981×11.4036×6.1469×3.3351×2.5380×1.0291×0.9301×0.7414×0.7731×
1 year ago191.9728×68.9659×37.0188×6.1760×5.6307×2.9172×1.7908×1.1289×1.1020×
2 years ago131.2205×113.2067×13.2332×2.5047×2.1294×2.2696×1.8764×1.2728×1.1519×
What was the reading at each month’s end?
Profit ratio when they moved by minimum coin age: 24 month-end readings
Reading date10 years and older7 years and older5 years and older3 years and older2 years and older1 year and older6 months and older1 month and older1 week and older
275.8590×23.5858×3.2539×2.8184×2.4357×1.0813×0.9701×1.0648×1.1158×
171.6069×8.5818×2.7942×2.2617×1.7614×1.1967×0.9966×0.9806×0.9784×
456.8882×11.2249×2.7486×2.3477×1.6527×0.8024×0.6161×0.6681×0.7593×
2302.6292×53.2402×8.2174×3.9791×2.5060×1.1484×0.9878×1.0027×0.9842×
236.3577×10.7697×4.9689×3.2271×2.1395×1.0133×0.8192×0.8933×0.9465×
87.3414×60.2086×2.0795×2.0947×1.9214×1.4331×1.0339×0.9541×0.9542×
272.4410×19.0095×7.4618×3.2851×2.5859×1.1458×0.9153×0.7412×0.8339×
187.6177×16.3976×7.3485×2.9183×2.6747×1.5618×1.2280×0.9363×0.9219×
184.3194×17.6088×10.8088×2.4882×2.4907×1.1346×0.9681×0.9291×0.9526×
295.3143×23.2756×15.2768×2.5820×2.6882×1.7535×1.2812×0.8951×0.9092×
999.9273×34.5159×25.6491×2.9635×3.3245×2.4652×1.5637×1.1466×1.0453×
274.5999×17.0970×14.5887×4.0272×4.1083×3.7674×2.3689×1.3107×1.1863×
418.3412×19.3084×15.8210×8.9969×8.0924×4.6241×2.7733×1.6439×1.0464×
6267.2160×26.3980×18.6681×5.6528×5.6289×3.6371×2.0657×1.3411×1.2052×
1836.6908×16.1302×16.3061×8.2333×7.8332×3.9560×3.2620×1.5691×1.3607×
383.8321×17.8756×15.6999×4.5229×4.6430×3.6206×2.7312×1.5796×1.0835×
313.4926×21.3654×15.8129×1.7613×1.8369×1.8476×1.7702×1.2195×1.1857×
371.3381×18.6343×12.7441×2.6875×2.8787×2.5234×2.2900×1.0592×1.0304×
368.0228×19.8355×15.7118×2.4290×2.7654×2.6001×1.8420×1.1486×0.9737×
181.0609×39.0488×27.9055×5.0019×5.2266×4.4183×2.0459×1.2796×1.1798×
431.4358×39.1917×13.4492×4.2074×4.2069×3.8456×2.8977×1.6716×1.1309×
295.3814×33.8311×10.7082×4.1158×3.9323×3.8896×2.4490×2.0969×1.3927×
616.1230×34.9379×12.1418×1.9053×1.9550×2.1492×1.7638×1.2733×1.2114×
218.1871×103.8851×15.9804×4.1728×3.5369×3.1181×1.7825×1.1733×1.0819×
maketo2012201620212026

Are people selling at a profit or a loss?

BITCOIN SOPR

The whole-market read behind this ladder, split by holder group.

maketo2013201720212026

Are old Bitcoins waking up?

OLD COINS, CDD AND VDD

How much long-dormant Bitcoin has been waking up.

maketo2012201620212026

Are the profits coming from old coins or new?

BITCOIN REALIZED PROFIT AND LOSS BY COIN AGE

The same day's profit and loss in dollars, per age group.

maketo2012201620212026

How long has Bitcoin been sitting still?

Bitcoin HODL Waves

Source: Maketo’s coin-age record. Reading for .

THE WEEKLY READ

A little context.
A clearer week.

Get the week’s Bitcoin moves, important charts and news in one short email. The first email has not gone out yet.

We’ll send one short email a week once it starts. No spam, and you can leave at any time. How we use your details.

You’re on the list. The Weekly Read will reach you once it starts.

That did not go through. Please check your details and try again.

AS THE MARKET MOVES

Follow the story
throughout the day.

New charts, important moves and live updates from Maketo.

Follow on X@Maketocom