Current snapshot: October 18, 2026, block 971,930, with bitcoin at $82,116. Short-term holders hold 3,691,535 BTC and long-term holders 16,408,020 BTC.
Every existing bitcoin sits in an unspent transaction output (UTXO) created on a specific day, at a specific price. The URPD (UTXO Realized Price Distribution) groups the whole supply by that price: each bar is the bitcoin that last moved within that price band. We compute it from weekly snapshots of our own node's UTXO set and split coins held by short-term holders (STH, under 155 days) from those of long-term holders (LTH).
“Bitcoin URPD: 3,691,535 BTC held by short-term holders and 16,408,020 BTC by long-term holders (UTXO set snapshot of 18 Oct 2026, block 971,930).” NodeWitness, https://nodewitness.com/en/charts/bitcoin-urpd-chart/
Each bar is the amount of bitcoin that last moved at a price inside that band. The green part is coins held by long-term holders, unmoved for more than 155 days, and the red part is short-term. The orange line marks the price on the snapshot day: what sits to its left moved cheaper, what sits to its right moved dearer. The dashed lines mark the realized price, the average cost of all supply, and that of each group.
A tall bar means a lot of supply moved at that price. A nearly empty band means price went through it quickly and few coins moved in that range. With the date picker and the comparison you can watch supply shift: when old coins are spent, they leave their old band and show up at the price of the day they moved.
Renato Shirakashi introduced it at Glassnode in April 2020. It has since become one of the most common ways to see at which prices the cost of supply is concentrated, and several on-chain analytics services publish it, each with its own price bands.
Glassnode splits the axis into equal dollar bands, or into 2% steps around the day’s price. We use 1.16% logarithmic bands across the whole axis, so 2013 shows the same detail as 2025, and we add the short/long-term split.
From each weekly snapshot of our node's UTXO set we keep how many satoshis remain unspent from every block. Each block gets the closing price of the day it was mined, from our Blockchain.com daily series [2], and its bitcoin is added to that price's band. That is the standard URPD definition [1]. The bands are logarithmic: each starts 1.16% above the previous one, so detail is the same at $100 as at $100,000. The bar-width selector merges them 2, 4 or 8 at a time.
To split short- and long-term we use the same cutoff as our STH/LTH realized price chart: a coin is long-term if its block is more than 155 days old (at 144 blocks a day) on the snapshot date. The lower chart accumulates the bars and shows, for each price, what share of evaluable supply last moved below it. Each snapshot is an exact figure for its day: no approximations and no interpolation between snapshots.
Multiplying each bar by its price and dividing by supply gives the realized price. We checked this on all 440 weekly snapshots from January 2018 to June 2026. The result matches our STH/LTH series' realized price with a median difference of 0.01% (max 0.07%), and our Realized Cap series with a median difference of 0.14%. In every band, short plus long term adds up exactly to the distribution used by our supply-in-profit chart.
The shape also fits public references. In February and March 2026, Glassnode described large supply clusters between $60,000 and $72,000, between $82,000 and $97,000 and between $100,000 and $117,000 [3][4]. In our 1 Mar 2026 snapshot, those three bands hold 12.5%, 19.2% and 14.0% of supply, while the gap between $72,000 and $82,000 holds just 1.5%.
We use the daily close, not the price at the exact moment of each transaction. A transfer between wallets of the same owner, or between exchanges, resets those coins' price: the URPD counts movements, not purchases. Some versions group addresses by entity and leave out exchange balances [5]. Ours doesn't, so it won't match them bar for bar. Bitcoin from before 18 Aug 2010 doesn't fit on a log axis and is reported separately.
A few scattered weeks are missing, as is the stretch between 14 Jun 2026 and the first snapshot saved by the new weekly process. The picker only offers dates with a real snapshot. A lot of supply in one band describes where coins moved; it says nothing about what price will do. This page is not investment advice.
How much supply sits above or below each day's price, week by week since 2018, is on the supply in profit and loss chart. Each group's average cost, with its MVRV, is on the STH/LTH realized price chart.
To run the numbers for a specific price, type it into supply in loss at a price, which adds up how much of these bars sits above it.
UTXO Realized Price Distribution. A UTXO is a transaction output that hasn’t been spent yet; every existing bitcoin sits in one. Its realized price is the price on the day it was created.
There are two groups. Coins that last moved before 18 Aug 2010 have no market price: they count at zero cost and are reported separately, because zero doesn’t fit on a log axis. A small remainder with no assignable date, around 0.5% of supply, is left out rather than given a made-up price.
Some read it that way: if many people bought at a price, they might sell when price returns there. But the URPD counts coin movements, not people or intentions, and predicts nothing. We show it as descriptive data, not investment advice.
How supply splits across holders and age, on the supply and holders page.