Here is a summarized version:
With substantial turnover in the supply of Bitcoin during two ATH impulses over six months, tracking recent investor behavior becomes crucial. The Short-Term Holder Cost Basis (STH) captures the average acquisition price for coins held for less than 155 days, currently at $97.1 thousand.
The standard deviation bands provide statistical context: the +1σ band at $114.8 thousand signals overbought/breakout conditions, while the -1σ band at $83.2 thousand signals elevated downside risk. These three levels ($114.8 thousand, $97.1 thousand, and $83.2 thousand) define the boundaries of short-term sentiment, with breakouts above or below likely shaping the next market direction.