Indicator Overview

The indicator is tracks the net change in the Bitcoin supply held by Short-Term Holders (STHs) over the preceding 30-day period, measured in BTC. STHs are defined as wallets holding coins last moved less than 155 days ago. This change is effectively a measure of the 30-day inflow/outflow of speculative capital to/from the Bitcoin market.

Positive values (Green): Mean STHs are accumulating (buying more coins than they are selling/maturing).

Negative values (Red): Mean STHs are net distributing (selling more than they are buying/maturing).

How To Use

The 30-Day STH Net Position Change is used to identify periods of aggressive accumulation or distribution by the market's most reactive participants. Large, sustained negative readings (deep red, strong net selling by STHs) often coincide with market bottoms and capitulation events, as fearful investors sell their positions to Long-Term Holders. Large, sustained positive readings (bright green, strong net buying by STHs) can signal bullish price momentum but also warn of a potential local top if the buying becomes excessive, as speculative supply is rapidly increasing.