Indicator Overview

The indicator tracks the total volume of Bitcoin (measured in BTC) held by Short-Term Holders (STHs). Short-Term Holders are defined as wallets holding coins that were last moved less than 155 days ago. This group represents the more emotional, speculative, and responsive segment of the market, as their cost basis is relatively recent and thus more sensitive to short-term price movements. The supply is often measured in millions of BTC.

How To Use

STH Supply is a powerful counter-indicator used to identify cyclical price bottoms and tops by observing the supply dynamics of recent buyers. When STH Supply capitulates to low levels (typically 3.0M-4.0M BTC), it signals that speculative supply has been flushed out, creating a low-risk accumulation zone. Conversely, when STH Supply rises rapidly (bright orange), it indicates new capital is entering, which can be bullish early on, but also signals rising speculative overhead supply that may require consolidation, often preceding a local top.