Supply untouched for over a year — Bitcoin onchain, per block

How many bitcoin have not moved in over a year. On the cycle dashboard this is the one row read upside down: a big pile of coins untouched for a year is what a bottom looks like, so a hot reading there means that pile is being spent back into the market.

DefinitionCirculating supply held in outputs aged one year or more, which is exactly the sum of the age bands at or above one year. The cycle dashboard ranks its SHARE of supply, detrended over 129,600 blocks (about 2.5 years) and inverted before ranking, so that red still means "near a top". Age is real elapsed time off a monotonised block clock (the running maximum of block timestamps), not blocks divided by 144.

LimitThe raw level only grinds upward over the years, so what the dashboard ranks is its deviation from its own multi-year trend, not its level. It also turns early: it went hot before three of the last four tops rather than at them. Age is per output, not per owner: consolidating coins or receiving change resets the clock on bitcoin nobody sold.

UnitBTC

Also filed under

Long-term and short-term holders What are the patient holders doing, against the recent buyers?
Cycle position Where in the cycle are we, on the fifteen indicators the dashboard ranks?
Short-term holder SOPR are recent buyers selling at a gain or a loss
Long-term holder SOPR are patient holders selling at a large multiple
Long-term holder spent volume bitcoin moved after sitting more than five months
Long-term holder supply bitcoin untouched for over five months
Short-term holder supply bitcoin that has moved recently
Long-term holder share of supply the share of all bitcoin held over five months
Long-term holder cost basis what coins held over five months cost their owners
Cost basis of coins older than a year what year-old coins cost their owners
Long-term holders' share of cost basis how much of the money in bitcoin belongs to patient holders

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