The Short-Term Holder (STH) supply is currently at 3.36 million BTC. During the recent market correction, over 2.14 million BTC (63.2%) were in an unrealized loss. However, as the market rallies back above $70k, this has decreased to just 230k BTC (6.8% of the total).
Despite many coins being close to the current spot price, very few are now in an unrealized loss. This significantly reduces the risk of a market downturn due to heavy selling pressure. The market appears more stable with fewer coins at a loss.
