Bitcoin Metrics

Ratio of market capitalization to realized capitalization. A classic indicator of Bitcoin cycle overheating and bottoms.

The average price at which all coins in circulation last changed hands. The 'cost basis' of the Bitcoin network.

Ratio of the BTC price to the 200-day moving average. The simplest overbought indicator.

The 200-week moving average of the BTC price — a level below which the price has never closed a single month in history.

The crossover of the 111-day moving average and double the 350-day moving average. Has indicated the cycle top with an accuracy of a few days three times in a row.

Daily miner revenue relative to its yearly average. Shows the cycle from the perspective of those who create the supply.

The total volume of Bitcoins held in exchange wallets. One of the strongest supply metrics.

Net flow of BTC to exchanges per day. Up — moving to exchanges (sell pressure), down — moving to cold storage.

The funding rate of perpetual futures. Shows who is paying to hold a position — longs or shorts.

The total volume of open positions in perpetual futures. A measure of leverage in the market.

The volume of forcefully closed positions. Up — short liquidations, down — long liquidations.

The ratio of longs to shorts among the positions of top exchange traders.

The total computing power of the Bitcoin network. An indicator of network security and miners' capital expenditures.

Mining difficulty — recalculated by the network every 2016 blocks to keep the block interval around 10 minutes.

Total fees paid per day. An indicator of real demand for block space.

The number of unique addresses that participated in transactions per day. A proxy for real network usage.

The crossover of the 30-day and 60-day moving averages of the hashrate. A classic signal of miner capitulation and market bottoms.

The total capitalization of USDT, USDC, and other stablecoins. 'Dry powder' — money ready to enter the market.

The ratio of BTC capitalization to the capitalization of all stablecoins. Shows the purchasing power of the market.

A composite index of crypto market sentiment from 0 (extreme fear) to 100 (extreme greed).