Bitcoin Net Age Flow (30D) is a daily metric that shows the net change in Bitcoin’s “old” supply over 30 days. Old supply means coins that have not moved for more than one year. The metric answers one question: over the past month, did old coins return to circulation on a net basis, or did the supply older than one year continue to grow?
Formula:
Net Age Flow (30D) = Supply(>1Y, t-30) - Supply(>1Y, t)
A positive value means supply older than one year declined. Old coins returned to circulation on a net basis and left the >1Y age cohort.
A negative value means supply older than one year increased. More coins crossed the one-year threshold during the month than old coins started moving again.
This is not a demand metric or a direct indicator of exchange selling. It reflects the net change in old supply - the balance between coins leaving the >1Y cohort and new coins aging into it.
The main idea of this issue: activating old coins in a rising market and activating them in a falling market are two different conditions, even though the metric has the same sign in both cases. As in the previous issue on the Local Stress Index (#025), where we examined the two-layer logic of “the index plus its decomposition,” a similar but simpler principle applies here: one metric interpreted together with the direction of price.
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