
Entity-Adjusted Long-Term Holder Transfer Volume sums daily BTC transfers from the long-term holding cohort between distinct entities, including transfers in profit and in loss. Addresses attributed to the same owner are grouped and identified internal movements excluded; the cohort boundary is around 155 days.
A rise shows that more older supply is returning to circulation between entities, while a quiet series suggests less movement from seasoned holdings. On February 1, 2022, the total reached about 113,296 BTC, of which roughly 105,634 BTC was classified as profitable. The total alone cannot distinguish profitable distribution from transfers under stress.
This is a daily flow, not the stock of BTC still held long term, and it does not count unique holders. Entity estimates can be revised, and ownership changes for custody or settlement need not be exchange sales. Read the profit and loss components before assigning a motive to a spike.
No. Transfer volume measures BTC moved during a day; supply measures the balance still assigned to the long-term cohort. Supply also changes as previously younger holdings age into that cohort.
They describe the two profitability components of this series. At October 17, 2026, about 4,740.5 BTC in profit plus 837.3 BTC in loss equals the reported total of 5,577.8 BTC; rounding can affect other displayed sums.
It means more BTC is moving, not necessarily more owners. One large entity can move enough coins to dominate the daily total.