The ratio of the Short-Term Holder Supply in Profit and the Short-Term Holder Supply in Loss. Similar to SOPR, it detects local bottoms in bull markets and local tops in bear markets. This metric was first put forward by ARK Invest.

This is the Point-in-Time (PiT) variant of Short-Term Holder Profit/Loss Ratio. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.