Supply Last Active 3m–6m

Hvad den måler

Supply Last Active 3m–6m is the BTC balance of unspent outputs whose last on-chain move occurred between three and six months ago. This medium-age band spans the roughly 155-day convention used to distinguish short-term from long-term holdings, so it includes supply on both sides of that boundary.

Sådan læses den

An increase shows more supply persisting beyond its first three months, while a decline can mean renewed spending or aging into 6m–12m. The band reached about 3.39 million BTC on June 3, 2018; its 2021 maximum was about 2.88 million on June 10. These later readings can carry the footprint of transfers made months earlier, even after market conditions have changed.

The band cannot be treated entirely as either short-term or long-term supply, and crossing 155 days does not cause a transfer. Internal wallet operations reset age, while high-cost coins staying untouched after a decline can enlarge the band without signaling fresh accumulation. Combine it with cohort profitability and older age groups to assess the nature of persistence.