According to @cas_abbe, the highlighted chart tracks the average on-chain cost basis of new Bitcoin short-term holders alongside standard deviation bands that have historically captured overheating and cooling phases, providing an actionable BTC risk map for traders, source: Cas Abbé on X, Aug 16, 2025. According to @cas_abbe, the post notes that the STH cost basis currently sits around a level shown on the chart, framing where BTC stands relative to bands that historically signaled overheated versus cooled conditions, source: Cas Abbé on X, Aug 16, 2025. According to @cas_abbe, monitoring BTC in relation to the STH cost basis and its deviation bands helps assess risk-on or risk-off positioning by referencing zones that historically aligned with market overheating and cooling, source: Cas Abbé on X, Aug 16, 2025.