Knowledge base
Bitcoin indicators, explained
Every chart and cycle signal we run, what each one actually measures, and where the numbers come from. Written in plain English, and written for people starting from scratch.
50 indicators defined50 in-depth guidesFree to read · no signup
Heat meters
Composite scores that weigh many indicators into one cycle reading.
- Bitcoin Heat MeterGuide
- A single 0–100 cycle risk score combining fourteen indicators, weighted by how well each has called past cycles.
- Ethereum Heat MeterGuide
- The same fourteen-indicator method applied to Ethereum, with weights tuned to how ETH leans on Bitcoin’s cycle.
Price & cycle models
What price is doing relative to its own history, trend and long-run models.
- Pi Cycle TopGuide
- Two moving averages — the 111-day and the doubled 350-day — whose crossing has landed within days of three Bitcoin cycle peaks.
- Pi Cycle BottomGuide
- The Pi Cycle Top upside down: two average-price lines used to spot the bottom of a cycle rather than the top.
- Log Regression BandGuide
- Price against a long-run trend line drawn through each coin’s whole history, split into six value zones.
- Rainbow ChartGuide
- The same long-run trend line drawn as nine coloured bands, from deep value to bubble territory.
- Golden Ratio MultiplierGuide
- Price against multiples of the 350-day moving average, a ladder that has caught intermediate cycle highs.
- 200-Week MA HeatmapGuide
- How far price sits above its 200-week average — a floor Bitcoin has only briefly traded under, at the deepest lows.
- MVRVGuide
- What every Bitcoin is worth today against what it last changed hands for — a read on collective paper profit.
- Reserve RiskGuide
- How patient long-term holders are against the price they could sell at — cheap when they hold through a rally.
- Risk WaveGuide
- How far price has stretched from its long-run average, adjusted so Bitcoin’s wild early years don’t dwarf recent moves.
- Oscillator RiskGuide
- How today’s market conditions rank against every reading on record — 0 is the calmest, 100 the most stretched.
- BDZGuide
- Our own measure of how far Bitcoin’s price has stretched from its recent average, in either direction.
- RSI Cross SignalGuide
- A popular momentum gauge crossing its own average — a sign the direction is turning, not just that price has run hot.
- RSI HeatmapGuide
- Momentum across many coins and short time windows at once, plus a 0-100 risk reading for whichever coin you pick.
- Fear & Greed IndexGuide
- The widely published 0–100 sentiment gauge, tracked alongside price so you can see when emotion led or lagged.
- Everything vs BTCGuide
- Altcoin risk read from Bitcoin’s share of the market — when money moves out of Bitcoin and into everything else.
- Moving AveragesGuide
- Eighteen moving averages across Daily, Weekly and Monthly views, with the Bull Market Support Band and the Golden/Death Cross.
On-chain
What the blockchain itself says about holders, miners, and what people paid for their coins.
- AHR999Guide
- Compares today’s price with what buyers have typically paid over the long run — built for spotting cheap stretches.
- Puell MultipleGuide
- The daily value of newly issued coins against its yearly average — miner revenue as a cycle signal.
- Cost of ProductionGuide
- A modelled miner cost floor from difficulty and issuance, and how far price trades above it.
- RHODL RatioGuide
- The balance between recently moved coins and long-dormant ones, which peaks near cycle tops.
- STH Realized PriceGuide
- The average price at which short-term holders bought — support in a bull market, resistance in a bear.
- Supply in Profit / Loss (NUPL)Guide
- How much of all the Bitcoin out there is sitting on a paper profit, mapped to phases from panic to euphoria.
- Stock-to-FlowGuide
- The scarcity model that values Bitcoin from its issuance rate, shown with its deviation from actual price.
- Volume MomentumGuide
- Trading volume against its own yearly baseline — speculative heat rather than price.
Market structure
How much borrowed money is in the market, which way bets are leaning, and where money is moving.
- Altcoin Season IndexGuide
- CoinGlass’s published 0–100 rotation index, with 80 and above marking Altcoin Season and 20 and below Bitcoin Season.
- Altcoin Strength IndexGuide
- A weekly 0–100 score for altcoins against Bitcoin, where 0 means historically cheap and 100 historically expensive.
- Bull Market ProgressGuide
- How far roughly thirty cycle-peak indicators have travelled toward their historical top readings.
- Funding RateGuide
- What leveraged traders pay to hold their positions — the cost of crowd consensus.
- Open InterestGuide
- How much leverage is outstanding across futures venues, and which exchanges hold it.
- LiquidationsGuide
- Where leveraged positions were forcibly closed, long against short.
Macro
Interest rates and the supply of money — the backdrop crypto ultimately trades against.
- US M2 Money SupplyGuide
- The size of the US money stock — the broadest measure of how much liquidity exists.
- Bitcoin vs Global M2Guide
- Bitcoin against global money-supply growth, the clearest expression of the debasement thesis.
- Fed Balance SheetGuide
- Total Federal Reserve assets: expansion and contraction of the system’s base liquidity.
- Federal Funds RateGuide
- The policy rate that sets the price of money for everything else.
- 10-Year Treasury YieldGuide
- The long end of the curve — the market’s own verdict on growth and inflation.
- Treasury General AccountGuide
- The US Treasury’s cash balance, which drains or adds liquidity as it fills and empties.
- Treasury Debt RolloverGuide
- How much government debt matures each year and has to be refinanced.
- Consumer Price IndexGuide
- Headline inflation, year over year.
- Core PCEGuide
- The inflation measure the Federal Reserve actually targets.
- Unemployment RateGuide
- Labour-market slack — half of the Fed’s dual mandate.
- Real GDPGuide
- Economic growth after inflation, quarter by quarter.
- NFCIGuide
- A single index of how loose or tight US financial conditions are overall.
- ISM Manufacturing New OrdersGuide
- Forward-looking factory demand, one of the earliest turns in the business cycle.
- Economic Policy UncertaintyGuide
- How much uncertainty about policy the press is registering — a proxy for macro risk appetite.
Traditional markets
What equities and institutional flows are doing next to crypto.
- S&P 500Guide
- The benchmark US index, plotted against Bitcoin so correlation is visible rather than assumed.
- NASDAQ CompositeGuide
- The tech-weighted index Bitcoin has tracked most closely in risk-on and risk-off swings.
- Dow JonesGuide
- The oldest US index, as a slower read on broad market direction.
- Spot ETF FlowsGuide
- Daily net money in and out of spot crypto ETFs, per fund and per asset.
The definitions are free. The live readings are the product.
Everything on this page stays open, because knowing what an indicator measures shouldn't cost anything. Inside, each one runs live — with our risk scores, our thresholds, and the composite heat meters that weigh them all into a single cycle reading.