BTC value of outputs consumed on-chain — BTC value of outputs consumed in each on-chain bucket
The BTC value of transaction outputs consumed on-chain in each bucket.
Rising bars mean more existing UTXO value is being spent during that interval. Compare the move with price and SOPR to distinguish routine settlement from profit-taking or capitulation.
This measures spent outputs, not newly created output volume. A single transaction can consume several outputs, and internal wallet reshuffles may create large spikes.