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STH Supply

Short-term holder supply

PropertyValue
CategorySupply Analysis
UnitBTC
Resolution1d
AssetsBTC
TierBasic
API EndpointGET /v1/holder/supply
Fieldsth_supply

Overview​

STH Supply tracks the total amount of Bitcoin held by Short-Term Holders — entities whose coins have a high probability of being spent based on their recent age.

Methodology​

STH Supply is the complement of LTH Supply. Each UTXO contributes to STH Supply as: amount × (1 − W_LTH(age)), where the LTH weight is:

WLTH(age)=11+e−0.1×(age−155)W_{LTH}(age) = \frac{1}{1 + e^{-0.1 \times (age - 155)}}

  • Below 100 days, coins are fully STH (weight = 1.0).
  • At 155 days, coins are split equally between STH and LTH.
  • Above 210 days, coins are fully LTH (STH weight = 0).

For full methodology details, see On-Chain Concepts.

Interpretation​

  • Rising STH Supply: Indicates increased speculative activity and new market participants entering.
  • Falling STH Supply: Indicates coins are maturing into long-term holdings, reducing speculative pressure.

Use Cases​

  • Market top detection: STH supply surges often coincide with market euphoria and cycle peaks.
  • New demand assessment: Track the flow of new capital into Bitcoin.
  • Complementary analysis: Compare with LTH Supply for a complete picture of holder behavior.

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/holder/supply?start_date=2024-01-01&end_date=2024-12-31&limit=365"