Vaultedness reports how much of the Bitcoin supply has gone quiet instead of moving around. A climbing line describes an economy that has decided to hoard, with owners preferring the safe to the spend.

It is the mirror of Liveliness. Where Liveliness rises as coins are spent, Vaultedness rises as coins sit still. The two always add up to 1, so they are one reading shown two ways rather than two independent confirmations.

What it actually measures

The supply divides into two parts: coins that have been behaving as though they are for sale, and coins that have been behaving as though they are not. Vaultedness reports the second share. It is drawn from the whole history of the network, not from recent activity, so it reflects an accumulated condition and not a daily one.

When the line climbs, the pool of coins anyone could actually buy is draining. There is less around to satisfy whoever turns up, so the same money shifts price further than it used to, up or down alike. What that describes is scarcity, and scarcity has no opinion on direction.

The level tells you almost nothing

This is one of the slowest series on the dashboard, and that is a design feature, not a flaw. Because it accumulates over the network’s entire life, it drifts and cannot spike. No single day, and no single large holder, can move it meaningfully.

The consequence is that quoting a Vaultedness figure on its own is close to meaningless. The number on any given day carries very little, while the direction over months carries almost everything. Treat it as a regime filter and not as a level to be crossed.

What it does not tell you

It cannot tell a decision from an accident. Coins in wallets whose keys are lost sit permanently in the vaulted share, indistinguishable from coins a patient holder is deliberately storing. Part of the reading is a fossil, not a choice, and no method separates the two.

It also says nothing about price. A tightening float is a condition, not a catalyst. Supply can stay locked away for years while price does nothing at all, and the metric offers no view on when, or whether, that changes.

How to read it

Elevated. The reading sits high against its full history, so supply is being stored rather than spent.

Mid-range. Nothing at either edge. Coins are going quiet and waking up at roughly matching rates, so this is scenery rather than an instruction.

Subdued. Down near the bottom of everything on record. Coins that had gone quiet are waking up and rejoining the tradeable pool.

You will find Vaultedness on the Dormancy dashboard, next to Liveliness, A2VR and Active vs Vaulted Supply.

Related metrics: Liveliness, Active vs Vaulted Supply and A2VR.

Common questions

How does Vaultedness relate to Liveliness?

Each is the mirror of the other: the two always add up to 1, so between them they account for the whole supply. They always agree, which means neither confirms the other.

What does a rising line mean for the float?

That it is draining. Every coin going quiet is a coin nobody can buy, so scarcity is building even through stretches when price refuses to move at all.

How quickly can it move?

Slowly, by construction. It drifts instead of jumping, which makes it useless for timing and genuinely useful for establishing which regime the market has been in.

Does a high reading mean price should rise?

No. A tight float amplifies whatever demand arrives, and it does not create demand. High readings have persisted through flat markets for long stretches.

Do lost coins distort it?

Yes, upward and permanently. They behave identically to deliberate storage and cannot be filtered out, so read the direction of the line rather than treating its level as a measure of intent.