STH Cost Basis
The chart overlays BTC price (log) on the short-term-holder cost basis — the average acquisition price of coins last moved on-chain fewer than 155 days ago — with ±1σ/±2σ bands (σ of ln(price ÷ basis), 730-day rolling; similar construction to public STH band charts, own convention). Below it, the STH-MVRV oscillator = price ÷ cost basis: above 1.0 the recent-buyer cohort sits in unrealised profit, below 1.0 in aggregate loss. A recomposition of the BRK series brk_sth_realized_price, not a new indicator. Descriptive, not a buy/sell signal.
- Formula:
- STH cost basis = brk_sth_realized_price (coins < 155 d) · bands = basis × exp(±k·σ), σ = 730d rolling σ of ln(price ÷ basis) · STH-MVRV = price ÷ basis · parity = 1.0
- Originator:
- Coinmetrics / Glassnode (realized-price cohorts), checkonchain presentation
- Data source:
- BRK (Bitcoin Research Kit, brk_sth_realized_price, point-in-time in btc_chart_metrics) + Binance BTCUSDT daily — compute-on-read via /api/charts/sth-cost-basis
Strategies to backtest
Thematically related strategies from our library — try them in the backtest engine or read up on the methodology.
The benchmark for everything else — buy on day one, hold forever. The reference every strategy is measured against.
Open strategy →Buy a fixed amount on a fixed schedule — week after week, regardless of price. Smooths volatility, removes timing decisions.
Open strategy →More Bitcoin indicators
Difference between market cap and realized cap, normalised by standard deviation. Values above 5 mark the top region (4 of 5 historical bull tops), below 0 every bottom.
BTC price coloured by MVRV Z-Score regime — from deep accumulation (green) to euphoria (red). Makes valuation phases visible over time.
Aggregated unrealised profit of all coins, five phase bands from capitulation to euphoria. Measures on-chain market sentiment.