Bitcoin: Exchange Inflow - Spent Output Age Bands (%)
Chart Description
Exchange Inflow - Spent Output Age Bands (%) expresses each age cohort's contribution to total exchange inflows as a percentage, shifting the focus from absolute volume to the relative composition of who is depositing BTC onto exchanges at any given time.
Where the absolute version captures the scale of inflows by age band, the percentage view isolates structural shifts in deposit behavior - making it easier to identify when older coins are beginning to represent a disproportionate share of exchange inflows, even during periods of low overall volume. A rising share from longer-dormant age bands is a historically significant signal that long-term holders are rotating into exchanges, regardless of whether total inflow volume is elevated.
Monitoring changes in band composition over time provides an early read on regime shifts - such as the transition from accumulation to distribution - that may not yet be visible in price action or aggregate flow metrics.
