Supply Older Than 1y (%)
Fraction of total BTC supply held in UTXOs older than 365 days.
What is it?
Normalized variant of supply aged over one year. Formula: (UTXO supply >1y) divided by (total supply) multiplied by 100. This normalization eases comparison across cycles without bias from mechanical supply growth.
How to read
The vertical axis is a percentage. The series historically oscillates between 50% and 70%. A drop below 55% typically indicates a pronounced top distribution. A rise above 65% indicates a phase of structural deep-value accumulation consolidation.
Key zones
The 50 to 55 percent band is historically a late-bull high distribution indicator. The 65 to 70 percent band is historically a post-capitulation maximum accumulation indicator. The 55 to 65 percent band is the typical inter-cycle transition zone.
What to observe
Symmetric crossings (upward 55%, downward 65%) indicator cycle regime transitions. Divergences with BTC price (LTH supply >65% while price rebounds) confirm structural solidity of the price rise. Reverse divergences confirm structural fragility of the correction.
Historical context
Historical lows (55% and below) were observed at 2013, 2017, and 2021 tops. Historical highs (70%) were observed in 2015-2016, 2018-2019, and 2022-2023 bottoms. Post-spot-ETF (January 2024) structural maturation has kept the ratio in an atypically high band for a bull-market phase.
Expert notes
Normalization by total supply smooths halving effects, which halve yearly new issuance. The series can therefore be compared directly across cycles without mental adjustment for new-supply deflation.
Common mistakes to avoid
A stable percentage can mask massive absolute LTH-cohort growth if total supply grows in parallel. To capture absolute movements, read alongside the native-BTC variant.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/supply-older-1y-pct/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "supply-older-1y-pct",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
Related metrics
Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.