Bitcoin On-Chain Metrics

Breakdown of UTXOs by age. Shows how long coins have been held without moving. Growing older bands suggest long-term accumulation.

Long-Term Holders (>155 days) vs Short-Term Holders (<155 days) supply distribution. LTH accumulation typically signals conviction.

Total BTC ever mined. Follows Bitcoin's deterministic issuance schedule, halving roughly every 4 years toward the 21M cap.

Annualized rate of new BTC issuance relative to circulating supply. Decreases with each halving.

Circulating supply divided by annual new issuance. Higher values indicate greater scarcity — similar to how gold's S2F is measured.

Actual price divided by PlanB's Stock-to-Flow model price. Above 1 means price exceeds the model; below 1 means below model.