Revived Supply ≥ 5Y measures how much BTC was spent on a given day after remaining inactive for at least five years. It tracks very old supply coming back on-chain, so it says less about routine holder turnover and more about deep dormant-cohort release.
A higher reading means more 5+ year supply was reactivated and spent. A lower reading means very old supply remained dormant. It is most useful with the 3Y and 10Y versions, where the question is whether reactivation has reached genuinely old supply or only the lower end of long-term dormancy.
The key distinction is rarity. This threshold moves less often than the younger variants, and a rise here is usually more structurally meaningful because it implies release from deeply aged cohorts rather than ordinary long-term holder activity.
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