Cost Basis Distribution: Recent Buyers vs Patient Holders
At what prices today's bitcoin was last bought. The bars on the right stack every coin by the price it last moved at: orange for recent buyers (coins moved within the last 180 days), blue for patient holders (untouched for 180 days or more). The line is Bitcoin's daily close in US dollars; the dashed line is the latest close.
A price ladder of today's bitcoin supply. Each bar shows how many coins were last bought — last moved on the blockchain — at that price. **Orange** is the part held by recent buyers, coins that moved within the last 180 days. **Blue** is the part held by patient holders, coins nobody has touched for 180 days or more. The two shaded zones mark the heaviest 4%-wide price window of each colour.
The line is Bitcoin's daily close, in US dollars. The dashed line across both panels is the latest close. Bars **below** the dashed line are coins bought cheaper than today, so those owners are in profit; bars **above** it are coins bought dearer, so those owners are under water.
For example, if the tallest blue bar sits at $83K–$86K while the price is $77K, a large group of patient holders paid more than today's price. Many holders watch a zone like that, but it is **not automatically a ceiling** and it does not predict the next move.
Hover the line for a day's close and what was bought at that price; hover a bar for its exact price band, both groups' coins, and their share of every bitcoin in existence.
In words: for every unspent coin, keep the daily close of the day it last moved. Group the coins into narrow price buckets — about **0.23% of price** wide, 1,000 per decade. Split each bucket by whether the coin moved within **180 days** (recent buyer) or not (patient holder). The two zones are the **4%-wide price windows holding the most coins** of each colour; for patient holders, only prices Bitcoin has closed at in the **last 2 years** are considered, otherwise an old cluster far below today's price would win every time and tell you nothing.
The share in profit is read off the same bars: everything below the latest close, plus the coins that cost nothing at all.
Cost basis is the daily close of the day a coin moved, not each buyer's exact fill price. Coins sitting on exchanges are included — we do not label exchange wallets. Coins are counted per output and address, not per person, so one owner with many addresses appears many times.
The boundary is Safu's own **180-day** line, the same one its HODL and holder charts use — not Glassnode's 155 days. About 1.66M BTC were mined before Bitcoin had a market price (2009–2010); they have no bar on the ladder and are counted separately as patient holders, with the total printed under the chart.
Patient-holder buckets have been stored only since our node started writing them, and the ladder always shows the latest day both halves exist for. Nothing is estimated in the meantime: when a day is missing, the page says so.
Safu's own Bitcoin node (full UTXO replay) and Safu's stored BTC/USD daily closes.
Safu's own Bitcoin node · every unspent coin priced at the daily close of the day it last moved · recent buyers < 180 days · Safu's stored BTC/USD daily closes