URPD (UTXO Realized Price Distribution)
A histogram of Bitcoin supply organized by the price at which each coin last moved. URPD shows where the supply is sitting in cost-basis terms and identifies the natural support and resistance zones based on holder concentration. TBL uses an invested-capital weighted version (URPD IC) that scales each cluster by dollar value invested rather than by BTC count, which is the more useful read for identifying structurally meaningful price levels.
What URPD Is
A histogram of Bitcoin supply organized by the price at which each coin last moved. URPD shows where the supply is sitting in cost-basis terms and identifies the natural support and resistance zones based on holder concentration. TBL uses an invested-capital weighted version (URPD IC) that scales each cluster by dollar value invested rather than by BTC count, which is the more useful read for identifying structurally meaningful price levels.
Where URPD Appears in TBL Research
URPD is one of the on-chain bitcoin indicators that TBL tracks. For how it fits the broader framework, see TBL Guide to On-Chain Bitcoin Signals.
Related TBL Resources
TBL Guide to On-Chain Bitcoin Signals
On-chain data lets you read what Bitcoin holders are actually doing rather than what they say. TBL combines seven cost-basis and cycle valuation models into a single Master Valuation score from 0 to 100, and reads cohort behavior through short-term-holder MVRV, SOPR, the long-term-holder cost basis spread, and the URPD distribution.
TBL Glossary
Plain-English definitions for the macro, derivatives, on-chain, and TBL proprietary terms used across TBL's research. Each entry covers what the indicator measures and why it matters, conceptual form only, without proprietary formulas or live readings.
The indicators defined here are tracked live on TBL Pulse and interpreted in weekly written form in TBL Pro.