Bitcoin Supply Redistribution measures net BTC flows between six address-balance cohorts from <1 BTC to ≥10k BTC over the selected window. Daily address balance changes are converted into migration-adjusted cohort flows: positive daily net balance changes are assigned to the ending balance cohort, while negative changes are assigned to the starting balance cohort. These daily cohort flows are then aggregated over the selected window. Accumulation and distribution are matched at the window level to remove any unmatched net change from the view. The heatmap is supply-neutral: every BTC shown as accumulation is matched by an equal amount shown as distribution, rather than treated as new tracked supply such as issuance.
In this heatmap, accumulation colours indicate which address cohorts receive tracked supply; distribution colours indicate which address cohorts release it. Base signal strength reflects each cohort’s supply-neutral relative-flow magnitude rank within its rolling history, while displayed colour intensity is further adjusted for directional persistence and economic significance. The 3D–7D windows highlight short-term flows while 14D–30D focus on medium-term redistribution, and 60D–90D provide context for broader regimes. The 180D window highlights long-horizon supply redistribution. As the reference period rolls forward, each cohort’s relative-flow magnitude ranking gradually shifts, so strong past moves gradually become less unusual relative to more recent history.
The metric tracks daily net changes in address balances while reducing the mechanical effects of addresses crossing balance thresholds. This helps isolate redistribution between address-balance cohorts. Address consolidation or reorganisation can still appear as redistribution when it changes how BTC is distributed across balance cohorts.