BTC: Spent Count Above Created Count - 14-Day Mean Indicator

Bitcoin Spent Count Above Created Count - 14-Day Mean Indicator was 1 on 7 Nov 2026 (latest daily value).

A daily flag: 1 when Bitcoin's 14-day average of outputs spent is above its 14-day average of outputs created, 0 otherwise.

Why use it. More outputs spent than created means coins are being consolidated, which miners and exchanges do when fees are cheap. How to read it. Runs of 1 mean the number of coins (outputs) is shrinking; runs of 0 that it is growing.

Calculation. Exact definition: A daily flag that is 1 when the 14-day mean of spent output counts exceeds the 14-day mean of created output counts, and 0 otherwise. 1 means the 14-day average spent count is strictly above the average created count; equality or a lower average gives 0. The flag shows direction only, not the size of the gap. These are output counts, not owners or transactions. Closed UTC days only, with no carry across missing inputs; source revisions, publication holds and the weakest input's finality carry through. ifthen(sma(b,14) > sma(a,14), 1, 0), where a is the daily count of created outputs and b the daily count of spent outputs, each averaged as a simple mean of 14 adjacent daily values. Both counts come from locally validated Bitcoin Core data, using 40-digit Decimal arithmetic.