Key Insights:
- Coinbase moved 800,000 BTC, changing on-chain supply classification across multiple tracking platforms today.
- Long term holder supply increased from 15 million to 15.8 million BTC within two days.
- BTC age-based metrics shifted as old UTXOs reset and reclassified into new holding groups.
- Glassnode applies a 150–155 day window for STH to LTH transition across Bitcoin datasets.
Coinbase BTC Transfer and On-Chain Data Reset
Bitcoin recorded a major shift in supply classification after a large movement linked to Coinbase. According to Darkfost, around 800,000 BTC were transferred, which affected several tracking systems. The transfer occurred when Bitcoin traded near 85,000 dollars on November 22 and 23.
The movement caused older UTXOs to reset, which changed how the coins are recorded on-chain. Data platforms then created new UTXOs linked to the same coins. This process changed how age-based tracking models classify supply across wallets.
Multiple blockchain datasets were affected by this activity. Metrics tied to coin age, realized value, and holder categories shifted. Short term holder and long term holder cost basis readings also changed due to the reset. Volume-based indicators reflected updates across several analytics tools.
The event influenced how supply distribution is calculated across Bitcoin markets. It also altered the way platforms interpret dormant and active coins. These changes appeared across different dashboards that rely on UTXO history tracking.
Long Term Holder Supply Transition After Six Months
Six months after the Coinbase linked movement, the affected coins transitioned into long term holder status. This transition follows standard blockchain age rules used by analytics providers. As a result, supply held by long term holders showed a sharp increase.
Reported figures show long term holder supply rising from 15 million BTC to 15.8 million BTC within two days. This change reflects the reclassification of previously reset coins. The movement is linked to the aging process of UTXOs over time.
Different platforms apply slightly different timing rules for this transition. Glassnode uses a 150 to 155 day range for classification. It also applies a short adjustment window of around 10 days, which spreads the update over time.
Filtered data that removes the Coinbase-related event shows a gradual upward trend. The share of supply held by long term holders continues to rise at a steady pace. Recent readings suggest the rate of increase is now stabilizing across datasets.
