BTC: Supply-Normalized Coin Dormancy — Native UTXO Stock

Bitcoin Supply-Normalized Coin Dormancy — Native UTXO Stock was 0.0000002 days/BTC on 7 Nov 2026 (latest daily value).

Bitcoin dormancy against the supply: the average age of the coins spent in each period, weighted by amount, divided by all spendable bitcoin.

Why use it. Dormancy rises when old coins move; dividing by the supply keeps readings comparable as the supply grows. How to read it. Higher means older coins are being spent for the size of the supply, typical of long-term holders selling into strength. The unit is days per BTC, so read it against its own history.

Calculation. Exact definition: Dormancy, the value-weighted age of spent coins in days, divided by spendable UTXO BTC at the last canonical block of the same UTC period. Higher values mean a higher value-weighted spent age relative to the spendable stock. The unit is days per BTC, not days. Dormancy includes self-transfers and has no entity adjustment. Missing or zero spent-value or stock denominators stay unknown. Available for UTC hours and days; history starts at 2009-01-12. a / b, where a is dormancy (nonnegative header-time coin days destroyed divided by the actual eligible spent BTC in the period) and b is spendable UTXO BTC at the last canonical block assigned to the same UTC period. The denominator excludes genesis, provably unspendable outputs and BIP30 losses. Data come from our own validated Bitcoin Core node.