CoinDays_STH
Tech spec
| Field | Value |
|---|---|
| API name (slug) | coindays_sth |
| Group | utxo coindays |
| Unit / Valuetype | coindays / other |
| Shape | scalar |
| Resolutions | block, h1, h4, h8, h12, d1 |
| Endpoints | /v2/utxo_coindays |
| Tier | 0 |
| Last updated | 2025-08-20 17:36 UTC |
| Docs | Open in Swagger |
Brief Description: Aggregate Coin Days of Bitcoin held by Short-Term Holders (STH) for less than 155 days.
CoinDays_STH measures the total Coin Days accumulated by Bitcoin held by Short-Term Holders, offering insights into their behavior and market influence.
Metric variants
- _lth: CoinDays_STH restricted to Long-Term Holders (age ≥ 155 days).
- _sth: CoinDays_STH restricted to Short-Term Holders (age < 155 days).
Interpretation Analyzing CoinDays_STH provides insights into the behavior and sentiment of market participants. This metric is particularly useful in assessing the selling pressure and potential shifts in market dynamics. A rapidly increasing CoinDays_STH could be a very early bullish sign that investors are holding onto their Bitcoin and reducing market supply. Conversely, a declining CoinDays_STH indicates that these Short Term Holders are spending their Bitcoin, increasing the available supply, often correlating with bearish sentiment or profit-taking moments.
Advanced Explanation One coinday is an on-chain metric describing an UTXO (a coin) by combining its age and bitcoin value. One unspent Bitcoin adds 1 coinday for each day it remains unspent; upon being spent, these coin days are reset to zero.
The CoinDays_STH considers only UTXO held for less than 155 days.
CoinDays_STH = Σ(UTXO_bitcoin_amount * UTXO_age), for STH
Where:
- UTXO_bitcoin_amount represents the quantity of Bitcoin held by Short Term Holders.
- UTXO_age is the number of days each Bitcoin has been held without being moved or spent.