Definition. Short Term Holder (STH) Relative Unrealized Loss is the aggregate USD loss carried by all coins whose price at realisation time was higher than the current spot price, normalized by market cap, restricted to the short-term holder cohort. Long Term Holder Relative Unrealized Loss is the LTH counterpart. Relative Unrealized Loss is the related base variant without segmentation.

Technical. Only UTXOs with a lifespan of at most 155 days are taken into account. LTH/STH use a hard 155-day cutoff.