Short-term holder supply
bitcoin that has moved recently
How many bitcoin have moved in the last 155 days. This is the part of the supply most likely to move again, and it swells during rallies.
DefinitionCirculating supply minus long-term holder supply, so the two sum to supply exactly.
Limit155 days is a convention borrowed from the industry, not a boundary in the data. Age is per output, not per owner: consolidating coins or receiving change resets the clock on bitcoin nobody sold.