
30-Day Activity Retention Supply sums BTC balances by address activity status in a 30-day retention framework. The groups are New, Resurrected, Churned and Dormant, plus Retained (balance up), Retained (balance flat) and Retained (balance down); values are holdings in BTC, not address counts or retention percentages.
Read the active groups against Dormant and Churned to see where supply sits as participation changes. Within retained activity, balance-up supply identifies holdings associated with increasing balances, while balance-down supply identifies the opposite. Dormant holdings reached about 16.04 million BTC on September 17, 2023, illustrating how much supply can sit outside recent activity.
A group can expand because addresses change category, even without comparable net inflows. New addresses can be change outputs, and returning activity may come from custody maintenance rather than returning investors. Read these address-level balances over several observations; an isolated category jump does not prove that investors changed their behavior.
No. Each series adds up BTC held by addresses in an activity category. A few large addresses can outweigh many small ones, so this is a supply-weighted view of activity rather than a user-retention rate.
Activity retention distinguishes Churned and Dormant addresses as well as new, returning and retained activity. Holder retention instead organizes balances around holding status and balance changes, so an address can retain its holdings without remaining active.
It means more BTC is associated with addresses classified as active again. Address reuse and exchange or custodian wallet operations can produce the same pattern, so it does not identify returning people or prove fresh capital entered.