BTC: Realized Cap by Age
Shown as its 2019–2022 sample; the latest readings and full history are included with Pro.
Bitcoin's realized cap split by coin age: the total purchase cost of all bitcoin, in bands by how long the coins have been unmoved.
Why use it. It shows where the money in bitcoin sits: the young bands swell as new capital comes in at higher prices, as in bull markets. How to read it. The bands add up to the total realized cap. A growing young share means capital rotating into new hands; a growing old share means coins are being held.
Calculation. How ours differs: a coin's purchase price is the BTC price on the day its output was created. Exact definition: The realized cap, the total cost of all coins at their creation-day price, split by how long the coins have been unmoved. The bands stack to the total realized cap. A growing young share means capital is rotating into recently moved coins, as in bull markets; a growing old share means coins are being held. For each band: the sum of each coin x its creation-day price. A coin's age is counted in whole UTC days: the reporting day minus the UTC day its output was created, by block header time. The bands are: under 1 day (created that same day), 1 day to 1 week (1 to 6 days), 1 week to 1 month (7 to 29 days), 1-3 months (30 to 89), 3-6 months (90 to 179), 6-12 months (180 to 364), 1-2 years (365 to 729), 2-3 years (730 to 1,094), 3-5 years (1,095 to 1,824), 5-7 years (1,825 to 2,554), 7-10 years (2,555 to 3,649), 10-15 years (3,650 to 5,474) and 15 years or more. Because ages are counted in whole days rather than hours, a coin near a band edge can sit in the neighbouring band for up to a day. Each coin is valued at its creation-day price, the BTC/USD price at the start of the UTC day its output was created: the same basis as the site's MVRV, realized price and SOPR, whose totals these bands add up to exactly. Ages belong to outputs, not owners: spending an output resets the age of everything it pays, change and moves between one owner's addresses included, so the bands show how long coins have been unmoved on the blockchain, not how long their holders have held them. Coins created before 18 July 2010, the first day with a BTC/USD price, have no cost basis and are left out of every USD value and ratio here; they sit in the oldest bands. Computed by CryptoKeyhole from its own Bitcoin node's record of every unspent and spent output by creation day, with its own admitted daily BTC/USD prices. Daily from 18 July 2010. Each value describes the UTC day after its last block, valued at the day's closing price; the open day is a labelled partial, valued at the latest completed hour and updated through the day, and becomes final six blocks after the day's last block.