> ## Content Index > Fetch the complete content index at: https://dev.axeladlerjr.com/llms.txt > Use this file to discover other available public pages before exploring further. # Bitcoin holdings among new short-term holders rose by 422K BTC - URL: https://dev.axeladlerjr.com/bitcoin-holdings-among-new-short-term-holders-rose-by-422k-btc/ - Published: 2026-10-16T08:29:53.000Z - Updated: 2026-10-16T08:47:32.000Z - Author: Axel Adler Jr. - Tags: Holder behavior, Adler AM: Bitcoin Morning Brief, #Import 2026-11-01 20:37 Short-term holders hold 4.08 million BTC - the highest level since mid-June. ## TL;DR Short-term holder supply is growing. I examine where the line between profit and loss lies for this group. 422K BTC New STH holdings 4.08M BTC STH supply ### **Bitcoin Short-Term Holders Supply** ![](https://dev.axeladlerjr.com/content/images/2026/10/BTC-Short-Term-Holders-Supply.png) Bitcoin Short-Term Holders Supply Short-term holders currently hold 4.08 million BTC - the highest level since mid-June. Since the July 29 low, their holdings have increased by 422K BTC, or 12%. They added 154K BTC in the first two weeks of October, including 48K over the past week. New participants are entering the market, buying Bitcoin in the $82K-86K range. As long as these holdings keep growing, the inflow of new buyers continues. A downturn in the indicator would mean this inflow has slowed. ### **Bitcoin: Short-Term Holder Cost-Basis Multiples** ![](https://dev.axeladlerjr.com/content/images/2026/10/Bitcoin-Short-Term-Holder-Cost-Basis-Multiples.png) Bitcoin: Short-Term Holder Cost-Basis Multiples As of October 16, Bitcoin is trading at $82.1K, while short-term holders’ average cost basis is $74.9K. Their unrealized profit cushion has narrowed from 16% to 10% as the price declined and their average cost basis rose. The $74.9K level separates the group’s unrealized profit from loss. Bitcoin has traded above the STH cost basis since August 20, and the current gap is $7.2K. The cost basis is rising because new buyers are entering at $82K-86K. As more buyers enter, the average cost basis moves closer to the current price. > *Reading the signal is not enough - you need to act on it. Weekly Engine turns on-chain data into one clear decision per week, with risk caps and invalidation built in.* [*Start free.*](https://a.dler.click/insight?ref=dev.axeladlerjr.com) ### **FAQ** ***Does an increase in short-term holder supply mean more selling?*** No. The indicator tracks the amount of recently moved BTC and is interpreted as the amount of coins purchased by new market participants. ***If the price is above $74.9K, are all short-term holders in profit?*** No. Those who bought above the current price are holding unrealized losses. The average cost basis shows the group’s overall position, rather than each participant’s individual result. ### **Conclusions** Short-term holders retain an aggregate unrealized profit of 10%, while their holdings have grown to 4.08 million BTC. Renewed price growth would increase their profit cushion relative to their average purchase price. The main risk is a drop below the STH cost basis, currently $74.9K. The group would then move into an unrealized loss, which could increase selling pressure. The amount of BTC held by this group is now at its highest since mid-June. ## Know what matters in Bitcoin before your day starts A 3-minute morning brief, 5 mornings a week - on-chain, ETF flows, derivatives, and macro, with one clear takeaway for today. Get the Brief Email sent! Check your inbox to complete your signup. Free. No spam. Unsubscribe anytime. ### Live Charts Explore the metrics behind this brief with live, auto-updating charts: [LTH vs STH Supply](https://dev.axeladlerjr.com/charts/bitcoin-lth-vs-sth-supply/) \- Supply split between long- and short-term holders to track accumulation and distribution. [STH-SOPR](https://dev.axeladlerjr.com/charts/bitcoin-sth-sopr/) \- Short-term holder profit/loss behavior around the 1.0 breakeven threshold. [Supply in Profit](https://dev.axeladlerjr.com/charts/bitcoin-supply-in-profit/) \- Share of circulating supply in profit as a cycle-phase and euphoria gauge. [Holder Behavior](https://dev.axeladlerjr.com/charts/holder-behavior/) \- All holder profitability and supply-cohort charts in one view.