Exchange Inflow - Spent Output Age Bands breaks down BTC exchange inflows by the age of the spent outputs being moved, segmenting capital entering exchanges into cohorts based on how long those coins had been dormant before the transaction. Each band represents the total value of inflows from outputs last moved within a specific time window - from hours-old coins to those dormant for multiple years.
This metric provides a granular view of who is depositing onto exchanges and when. Inflow dominated by older age bands signals that long-term holders are moving coins to exchanges - historically associated with distribution and increased sell-side pressure. Inflow concentrated in younger bands reflects short-term trader activity, which carries less structural significance for price direction.
Tracking shifts in the composition of age bands over time - rather than total inflow volume alone - helps identify regime changes in market behavior, such as when long-dormant supply begins entering exchanges ahead of major price movements.
