MVRV
Compares market value to realized value of BTC supply.
- Source
- CoinMetrics
- Cadence
- Daily
Practical use: Cycle valuation anchor to detect overheated and undervalued zones.
BTC Metrics Documentation
Full reference of metrics currently available in the service: source, update cadence, interpretation, and practical use.
NUPL
Net unrealized profit/loss estimate across network participants.
- Source
- CoinMetrics
- Cadence
- Daily
Practical use: Contextual sentiment gauge for euphoria and capitulation phases.
SOPR
Tracks whether spent coins realize profit or loss on average.
- Source
- Derived with fallback chain
- Cadence
- Daily
Practical use: Momentum persistence and trend health confirmation.
WALCL
Federal Reserve balance sheet size proxy.
- Source
- FRED
- Cadence
- Weekly
Practical use: Liquidity regime context for medium-term risk-on moves.
DXY
US Dollar index versus major fiat basket.
- Source
- FRED
- Cadence
- Daily
Practical use: Headwind/tailwind check for BTC trend continuation.
US10Y Real Yield
Inflation-adjusted 10Y US Treasury yield.
- Source
- FRED
- Cadence
- Daily
Practical use: Opportunity-cost layer for non-yielding risk assets.
Funding Rates
Perpetual funding bias across major exchanges.
- Source
- Bybit + Binance
- Cadence
- Intraday
Practical use: Crowding and squeeze-risk signal.
Open Interest
Aggregate open contracts in perpetuals/futures.
- Source
- Binance Futures
- Cadence
- Intraday
Practical use: Leverage buildup confirmation before volatility expansion.
Liquidation Levels
Estimated clustering zones of leveraged positions.
- Source
- Exchange liquidation streams
- Cadence
- Near real-time
Practical use: Volatility path planning and stop/target scenario mapping.
Exchange Reserve
Estimated BTC holdings on exchanges.
- Source
- Dune / DeFiLlama / CoinGlass fallback
- Cadence
- Daily
Practical use: Supply pressure and long-term accumulation context.
Stablecoin Liquidity
Stablecoin supply proxy for available crypto liquidity.
- Source
- DeFiLlama
- Cadence
- Daily
Practical use: Risk appetite proxy during expansion and contraction phases.
Fear & Greed Index
Composite market sentiment score.
- Source
- Alternative.me
- Cadence
- Daily
Practical use: Contrarian signal layer around emotional extremes.
Metric guides
A dedicated page for each metric: what it is, how it is calculated, how to read it, and its honest limits.
Bitcoin Funding Rate
What the Bitcoin funding rate is, how perpetual funding is calculated, and how to read positive vs negative funding as positioning pressure.
Bitcoin Open Interest
What Bitcoin open interest measures, how it is aggregated across venues, and how rising or falling open interest confirms or questions a price move.
Bitcoin Perp Basis
What Bitcoin perpetual basis is, how the gap between perpetual and spot price is measured, and how it reflects leverage demand and market stress.
Bitcoin MVRV Ratio
What the Bitcoin MVRV ratio is, how market value and realized value are compared, and how to read it as an on-chain valuation gauge.
Bitcoin NUPL
What Bitcoin NUPL measures, how net unrealized profit and loss is derived on-chain, and how to read its sentiment bands across a cycle.
Bitcoin SOPR
What Bitcoin SOPR measures, how the spent output profit ratio compares sale price to cost basis, and how to read it around the value of one.
Bitcoin Puell Multiple
What the Bitcoin Puell Multiple measures, how daily issuance value is compared to its yearly average, and how to read miner-side pressure.
Stablecoin Supply
What aggregate stablecoin supply measures, why it is a proxy for crypto buying power, and how to read its trend as dry powder for Bitcoin.
Crypto Fear & Greed Index
What the Crypto Fear & Greed Index measures, how the sentiment score is built, and how to read extreme fear and extreme greed as contrarian context.
Spot Bitcoin ETF Flow
What spot Bitcoin ETF flow measures, how net creations and redemptions are read, and why ETF flow is a proxy for institutional demand.
Bitcoin Exchange Reserve
What Bitcoin exchange reserve measures, why the amount of BTC held on exchanges matters, and how to read a rising or falling reserve.
Bitcoin Exchange Netflow
What Bitcoin exchange netflow measures, why it is the daily change in exchange reserve, and how to read inflows versus outflows.