bitcoin moved after sitting between one and two years
Last cycle's buyers taking profit. This band leads the way at tops: it is the first old cohort to sell into strength.
DefinitionValue of outputs spent whose age fell between one and two years. Age is real elapsed time off a monotonised block clock (the running maximum of block timestamps), not blocks divided by 144. The twelve bands sum to total spent output volume exactly.
LimitAge is per output, not per owner: consolidating coins or receiving change resets the clock on bitcoin nobody sold.