Methodology — what "LTH Realised Supply" is
Realised cap is the aggregate cost basis of the coin supply: for every unspent output, coins × the spot price when that output was created. Dividing by the current price turns that dollar figure back into a coin count, which is the standard on-chain identity:
  Realised Supply = Realised Cap ÷ Price
This page restricts it to Long-Term Holders — outputs unspent for >155 days (the Glassnode/CryptoQuant LTH convention). Because bitview's HODL-wave bands are the 23 raw Bitcoin Research Kit ranges, LTH is taken as the 14 bands from 6m_to_9m upward (6m ≈ 182d, which clears the 155d threshold); the 9 younger bands are STH. 9 + 14 = 23.

The plotted series: a 365-day z-score

  z[t] = ( x[t] − mean(x[t−364..t]) ) / pstdev(x[t−364..t])
A z-score is scale-invariant, so it is unitless: teal (>0) = realised supply is running above its trailing-year norm (long-term holders accumulating faster than the yearly trend), purple (<0) = below it (distribution). The dashed white line is z = 0.

Verification against the reference chart

Rather than assume the definition, the z-score was checked against the published CryptoQuant chart: the teal/purple area curve was extracted from the PNG pixel-by-pixel and its zero-crossing dates compared with this series. ~19 of 22 crossings agree to within 1–5 days (the small constant offset is x-axis tick calibration, 211px/year ≈ 1.7 days/px), and the value range −2.80…+7.86 matches the reference's −3…+6 axis. That is what pins the definition to realised cap ÷ price rather than raw supply.

Data & caveats

Fetched daily from the free bitview.space Bitcoin Research Kit API by lth-realised-supply-update.py; z-score computed here, not upstream. The 6m band boundary is an approximation of the exact 155d cutoff, and vendor-to-vendor levels differ slightly from Glassnode / CryptoQuant because UTXO-ageing and cost-basis conventions differ at the margin. Z values need a full 365-day window (and ≥90% non-null data), so the series begins in 2010-12-31. Not investment advice.