
Short-Term Holder Exchange Inflow Volume measures the daily BTC transferred from the short-term holder cohort to tracked exchange addresses. The cohort broadly represents coins held for less than about 155 days; the total includes deposits made both above and below their on-chain cost reference.
Increasing inflows mean recently held coins are reaching exchanges in greater quantity; falling inflows indicate less deposit activity from this cohort. The series peaked near 193,973 BTC on November 5, 2015, while its full-history median is about 21,949 BTC. Separating the profit and loss components helps explain what kind of recent-holder activity sits behind a rise.
Coin age is a classification convention and does not identify an investor's intent or account opening date. Non-trading wallet movements can change apparent holding periods, and deposits can support collateral or custody; the series leaves out long-term holder deposits and does not measure total exchange demand.
The usual on-chain convention is holdings younger than about 155 days. It classifies coins using holding-age estimates rather than identifying everyone who considers themselves a short-term trader.
They describe the two profitability components of this cohort's deposits. On October 17, 2026, the recorded amounts were 5,376.8 BTC in profit and 8,319.2 BTC in loss, summing to the 13,696 BTC total; rounding can affect other comparisons.
STH inflow isolates the recent-holder cohort. Total exchange inflow includes deposits across the tracked holder groups, so it can rise because of older holders even when STH inflow falls.