Bitcoin On-Chain Metrics
Blocks Indexed
955,000
Transactions Indexed
1,382,886,090
UTXOs (Unspent)
185,789,042
BTC Price (USD)
Daily BTC spot price in US dollars.
MVRV Ratio
Market Value to Realized Value. Compares current price to the average price at which all coins last moved. Values above 3.5 suggest overvaluation, below 1 suggests undervaluation.
NVT Ratio
Network Value to Transactions ratio. Like a P/E ratio for Bitcoin — divides market cap by daily on-chain volume. High values suggest the network is overvalued relative to its usage.
NUPL
Net Unrealized Profit/Loss. Shows whether holders are collectively in profit or loss. Values above 0.75 indicate euphoria, below 0 indicates capitulation.
Realized Cap
Values each coin at the price it last moved on-chain, rather than the current spot price. A smoother measure of capital invested in Bitcoin.
Market Cap
Total value of all bitcoins in circulation at current price (circulating supply x spot price).
NVT Signal
Smoothed NVT using a 90-day moving average of volume. Less noisy than raw NVT, better for identifying sustained trends.
Price Drawdown
How far the current price is below its all-time high, as a percentage. Zero at ATH.
Realized Volatility
Annualized price volatility computed from daily log returns over 7, 30, and 90-day windows.