
Briefing
The supply held by Short-Term Holders has surged by 559,000 BTC since May, a powerful signal that new capital is actively entering the Bitcoin market. This influx of recently acquired coins confirms a significant redistribution of supply, establishing a healthy market structure for the next expansion. This pattern suggests the current price consolidation is a structural recharge. The most critical data point is the rise in Short-Term Holder Supply from 4.38 million to 4.94 million BTC, proving renewed speculative conviction and strong demand.

Context
The market often questions whether a sustained rally is running out of steam or if all available capital has already been deployed. Investors wonder if the current price action is simply a top being formed by veteran profit-taking, or if new demand is strong enough to push the cycle forward. This data provides a clear answer by tracking the behavior of the newest participants and assessing the true level of fresh capital entering the network.

Analysis
Short-Term Holder Supply tracks the total Bitcoin held by wallets that acquired their coins within the last 155 days. This metric acts as a proxy for new capital, active traders, and the overall speculative appetite of the market. When this supply increases significantly, it means new money is absorbing coins from older holders or being bought fresh.
The observed 559,000 BTC increase is a material inflow, indicating that new buyers view the current price range as an accumulation opportunity. This redistribution of supply from long-term holders to newer, active hands is a classic pattern that precedes major bullish expansions, showing the market is building a stronger base.

Parameters
- Short-Term Holder Supply Increase ∞ 559,000 BTC. (The net volume of Bitcoin acquired by new investors since May 2025.)
- Current STH Supply ∞ 4.94 million BTC. (The total Bitcoin held by wallets for less than 155 days.)
- Supply in Profit ∞ 99.4%. (The percentage of total circulating Bitcoin supply currently held at an unrealized profit.)

Outlook
This structural shift strongly suggests the market is consolidating for its next major ascent. The influx of fresh capital provides the necessary demand to absorb any remaining profit-taking and fuel the next leg of the rally. A confirming signal to watch for is the Short-Term Holder Realized Price continuing its upward trend, which would prove that new buyers are confidently entering at increasingly higher prices, sustaining the rally’s momentum.

Verdict
The significant increase in short-term holder supply confirms the market is structurally healthy and positioned for a renewed bullish expansion.
