STH Address Count Heatmap

The Bitcoin STH Address Count Heatmap counts the number of distinct short-term holder (STH) addresses whose Bitcoin was last acquired within each cost-basis bucket. Rather than measuring how much BTC sits at a given price, it measures how many separate wallets do, dividing the short-term holder population across the range of acquisition prices at which they bought. The result is a two-dimensional map of fresh demand: time runs along one axis, price along the other, and each cell reports the count of newer holders whose entry price falls in that band.

Read the heatmap by its color intensity. Brighter, denser bands mark price levels where large numbers of short-term holders acquired their coins, revealing where recent buyers are clustered. Because it counts wallets rather than coin volume, it exposes the breadth of participation, showing whether fresh demand is concentrated among a few large entries or spread across many independent buyers.

Use it to locate the acquisition prices that matter most to recent market participants. Dense clusters just below the current price often act as support, since a broad population of short-term holders bought there, while thick bands overhead can act as resistance as those holders approach breakeven and become inclined to sell.

Check the selected asset, units, and cohort before comparing readings. Compare the metric over consistent dates and use related measures to understand what contributes to a change.