Bitcoin Supply Redistribution estimates net BTC flows between six address-balance cohorts from <1 BTC to ≥10k BTC over the selected window. Daily balance changes are adjusted for estimated cross-band address migration. Then, accumulation and distribution are matched at the window level to remove any unmatched net change from the view. As a result, this heatmap is supply-neutral, as every BTC shown as accumulation is matched by an equal amount shown as distribution, rather than being 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 colour intensity reflects each cohort’s relative inflow/outflow rank within its paired rolling history, 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. Finally, the 180D window highlights long-horizon supply redistribution. As the reference period rolls forward, each cohort’s inflow/outflow ranking gradually shifts, so contextually significant trends lose their “exceptional” status relative to the current period.
This metric focuses on address-balance cohorts rather than attempting to identify entities that may control these addresses. This leaves the metric agnostic as to whether BTC moves from one entity to another, as it only observes address-balance-level movements. Address-count changes within a cohort help estimate address migration between bands. However, migration can only be partially identified within this metric because address entries and exits can offset each other, leaving the cohort size unchanged on a daily basis. As a result, custodial reorganisation events and address consolidation efforts may appear as redistribution between balance cohorts without representing transfers between different owners.