bitcoin:native: LTH Realized Supply Z-Score Nears Neutral Bitcoin’s LTH Realized Supply 365-day Z-Score has fallen to roughly +0.33, down from a 2026 peak near +5 and a later rebound around +3.5. The 365-day Z-Score tracks how far LTH Realized Supply sits from its one-year statistical norm. At +0.33, the metric is only modestly above that baseline, meaning the statistical excess behind the earlier 2026 expansion has largely faded. Historically, negative readings have often appeared after elevated LTH supply conditions normalize, during repair, consolidation, and early-trend phases of the Bitcoin cycle. A move below zero would not confirm a bull market. It would indicate that LTH Realized Supply has fallen below its trailing 365-day norm — a condition observed in both constructive and sideways market environments. Key takeaway: The 2026 LTH Realized Supply expansion has largely normalized. A move below zero would complete that reset and, in the current STH repair context, would lean constructive — provided demand keeps confirming it.