STH % Supply in Profit

STH % Supply in Profit measures the share of Bitcoin held by short-term holders (coins held less than 155 days) that currently sits at a profit relative to its on-chain cost basis. The metric ranges from 0% to 100% and reflects how the most reactive cohort in the network is positioned.

Readings above 85% historically mark local tops: nearly every recent buyer is sitting on a gain, profit-taking pressure peaks, and the indicator typically rolls over within days. Readings below 25% mark panic-bottom conditions where short-term holders are predominantly underwater. The 50% line is a regime divide: sustained time above it characterizes uptrends, sustained time below it characterizes downtrends.

Use STH % Supply in Profit as a fast-moving sentiment gauge that confirms or contradicts price action. When price makes new highs but STH supply-in-profit fails to follow, late-cycle exhaustion is forming. When price makes new lows but the metric refuses to break, capitulation has likely peaked and a reversal is closer than it looks.

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.