What Is Short-Term Holder Supply?
Short-Term Holder (STH) supply counts coins held by addresses that acquired them within the last 155 days. These holders represent the more speculative segment of the market — they entered recently and are more likely to sell during volatility, particularly at a loss. STH supply is the complement of LTH supply.
How Short-Term Holder Supply Works
STH supply increases during bull markets as new participants buy in. It decreases during bear markets as speculative holders sell and their remaining coins mature past 155 days into LTH territory. The STH realized price (cost basis of STH coins) serves as a key support/resistance level — when price is above it, STH holders are in profit and less likely to panic sell.
Why It Matters for Traders
STH cost basis is one of the most reliable on-chain levels for trading. When BTC pulls back to the aggregate STH realized price during a bull market, it tends to bounce — STH holders buying at that level defend their cost basis. When price breaks below STH realized price and stays there, it signals a regime change toward bearish conditions.