Short-Term, Long-Term Bitcoin Holder Cost Bases
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One of our favorite on-chain indicators recently flipped bullish. The STH (short-term holder) LTH (long-term holder) cost basis ratio recently has started to trend downward over the last two weeks, indicating a shift in market conditions.
Traditionally the metric has been one of the crucial correct market indicators in Bitcoin, because the relationships between short-term and long-term holders and the acceleration/deceleration of value foundation of the 2 respective cohorts is sort of informative.