Long-term vs short-term holders

Supply split by how long coins have stayed put: about 155 days or more counts as long-term holders, the rest as short-term holders.

What it means

Long-term supply tends to grow in quiet markets and fall in strong rallies, as older coins pass to newer holders.

What to watch

A fast drop in long-term supply during a rally, and long-term supply growing again after a fall.

How Compass-Alpha uses it

Background only; not used in any figure on Compass-Alpha.