Angebotsänderung der Kurzzeithalter

STH Net Position Change = the day-by-day net change of short-term holder supply, in BTC. The convention mirrors the LTH change page: positive = the short-term cohort's holdings expanding on net (fresh buying and churn inflows exceeding coins aging out at 155 days), negative = net contraction. Since all supply shuttles between just these two cohorts, this chart runs roughly as the mirror image of the LTH change chart — the same coin's graduation posts positive on the LTH side and negative here.

A mirror is not redundancy. The STH-side reading takes hot money as its subject and answers directly: is speculative inventory growing or receding today? The signature of a bull impulse phase is sustained deep-positive STH prints — new money absorbing distribution at scale. When price makes new highs while STH-side positives visibly narrow, the rally's capital supply is stepping down — a divergence that requires a mental detour to extract from the LTH side but reads at a glance here.

Full disclosure: this series was added by the data provider only recently, so its history currently spans just a few months (from March 2026) — not yet enough to display full cycle shapes. Within a short window, limit yourself to two uses: tracking the persistence of the sign, and cross-checking against the LTH change and STH supply stock pages. The window lengthens naturally as daily updates accumulate.

Two. Both directions of STH cohort flow are polluted by exchange behavior — wallet reshuffles can inflate it (old coins reset young) or deflate it (coins parked in cold storage aging out) — so vet one-day extremes against exchange on-chain activity first. And STH net change is tightly entangled with short-term price action (rallies → active churn → STH expansion), making it better suited as a confirmation gauge of capital supply than a leading signal.

Alongside holder behavior, watch short-term leverage via BTC liquidations and funding rates.