_checkonchain

Welcome to checkonchain, a suite of Bitcoin on-chain charts to help navigate market cycles.
For more information, please contact Checkmate, or visit Glassnode Insights / Youtube for industry leading on-chain research and data.

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Pricing Models Profit/Loss Network Stats Supply Dynamics Mining Metrics Technicals/Volatility

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BTC: bc1qxgusrm4cnydwujv4edqlc6lletrhqjhc36a6ax
XMR: 48ogSz5LicNZhq6p1FBaMMHaTE1rPmi78TerD6PwBWfMJxCn2Aaxn4aRMDUBAxN8A9bQA491ibx6hUZVCr6jdUQX4BUifDE


Bitcoin Bitcoin Pricing Models

Simple but powerful pricing models for the Corn! Don't underestimate them.

On-chain Originals

A collection of the OG On-chain pricing models.

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Realized Price and MVRV

The Realized Price and MVRV for tracking cycle extremes.

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Short-Term Holder MVRV Indicator

Track periods when the STH cohgort are holding extreme unrealized profit or loss.

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The Mayer Multiple

The classic 200-day moving average strategy.

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NVT Price Model

Models using transaction volumes to estimate fair value.

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Old/Young Supply Cost Basis

Tracking the average cost basis of HODLers vs Speculators

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The Investor Tool

Tracking macro tops and bottoms using the 2yr moving average.

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Pi Cycle Top Indicator

Tracking cross-overs between the 111DMA and 350DMA x2.

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Old/Young NUPL (Net Unrealized Profit/Loss)

Oscillators monitoring the relative Unrealized Profit/Loss held.

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Yearly Cost Basis Models

Tracking the volume weighted average price by each yearly cohort.

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Bitcoin's Magic Lines

A suite of Bitcoin's most important simple moving averages.

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True Market Mean and AVIV Ratio

Our best estimate of the true market cost basis, leveraging the power of Cointime Economics.

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Bitcoin Profit/Loss Metrics

Metrics tracking the profit and loss across the network as a measure of sentiment, positioning, and capital flows.

MVRV Momentum

Trend analysis of the classic MVRV Ratio, seeking top and bottom heavy markets.

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Realised Profit/Loss

Net Realised Profit/Loss occurring across the network as a measure of net capital flows.

USD » BTC » Relative »

Realised Cap Net Position Change

Extreme 30-day shifts in the Realised cap.

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Net Sell-side Risk Ratio

Tool to track impending volatility via relative capital flows.

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Liquidity Capital Change Ratio

Analysis of how much capital is needed to make a $1 change in the Market Cap.

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Spent Volume Profit Ratio (SVPR)

A variant of the popular SOPR indicator which also considers coin volume.

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Net Realised Profit/Loss Momentum

A tool to spot acceleration of Profit or Loss dominant regimes.

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Bitcoin Network Adoption Metrics

Tools to assess the growing rates of adoption for the Bitcoin network.

Active Address Momentum

Momentum within the active addresses as a proxy for the Bitcoin userbase.

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Transaction Momentum

Momentum within the number of confirmed transactions mined into blocks.

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Transfer Volume Momentum

Momentum within the volume settled by the Bitcoin network within confirm transactions.

Total Volume » Exchange Inflows »


Coinday Value Destroyed Momentum

Momentum of coinday value destroyed to gauge economic activity.

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Miner Fee Revenue

Analysing the on-chain transaction fees paid to miners.

BTC » USD »

Transfer Volumes

Tracking the total transfer volume settled by the Bitcoin network.

BTC » USD »


UTXOs Created and Destroyed

Total number of UTXOs created and destroyed each day.

BTC » USD »

Fee Revenue Ribbon

Tool to track meaningful upticks in Fee Revenue paid to Miners over 1y to 4yr periods.

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Address Count by Cohort

The total number of Shrimp, Crabs, Fish, Sharks and Whale Addresses.

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Bitcoin Supply Dynamics Metrics

Metrics describing the supply dynamics of the Bitcoin network.

Circulating Supply

There will only ever be 21M Bitcoin.

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Issuance

Newly minted supply issued to miners.

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Supply Breadown

Compare the relative volume of supply.

Absolute » Relative »


The HODL Waves

Breakdown of supply into age bands.

Absolute » Relative »

Wallet Waves

Breakdown of supply into wallet size bands.

Absolute » Relative »

Supply Older than 1yr+

Breakdowmn of supply which has crossed the 1yr age threshold.

Absolute » Relative »


Old, Young and Probably Lost

Breakdown of supply into old, young and lost cohorts.

Absolute » Relative »

Old Supply Net Position Change

Monitor the 30-day change in supply aged 6m or more.

Absolute » Relative »

Revived and Maturing Supply 6m+

Tools to track the volume of supply Spent/Revived vs Maturing by age band.

Revived (Abs) » Revived (Rel) »
Maturing (Abs) » Maturing (Rel) »


Spent Supply Binary indicator

A tool to track when smart money investors are exiting during peak bull markets.

Absolute »


Supply metrics comparing the balance change of wallet cohorts to the daily issuance over 30-day and 90-day periods.

Retail Holders
(Under 100 BTC)

30-day » 90-day »

High Net Worth
(10-1kBTC)

30-day » 90-day »

Sharks and Whales
(100BTC+)

30-day » 90-day »

Whales and Exchanges
(1kBTC+)

30-day » 90-day »




Bitcoin Mining Metrics

Tracking the production side of Bitcoin via performance and income stress metrics for miners.

Hashrate Ribbons

Tool for tracking inversions in the 30D and 60D hashrate averages.

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Puell Multiple

The original oscillator for tracking mining profitability and income stress.

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Mining Pulse

Analysing changes in block interval to assess hashrate expansion and contraction.

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Hashprice and Miner Revenue

Monitoring the USD and BTC revenue per Exahash.

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Miner Balances

Tracking the total balance and 30-day balance change for miners.

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Mining metrics associated with estimating the all-in-sustaining-cost of production for BTC.


Difficulty Regression Model

A log-log regression model between Difficulty and Market Cap.

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Difficulty per Issuance Model

A curve fit model considering the difficulty input per unit of BTC produced (by @paulewaulpaul).

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Profitable Mining Days

Estimating the number of proffitable days, showing just how perfectly balanced PoW mining is.

Profitable Days » Revenue vs Cost »




Bitcoin Technical Analysis and Volatility

Analysis of the market performance using classic technical analysis tools.

Drawdowns from ATH

Tracking the total drawdown for Price, Market Cap and Realized Cap.

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Realized Volatility

Assessing the realized volatility of Bitcoin over several timeframes.

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Quarterly, Monthly, and Weekly ROI

Oscillators showing the price performance over 90, 30, and 7-day periods.

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Relative Strength Index 14

The classic RSI-14 Overbought / Oversold indicator.

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Stochastic Oscillator

Tracking volatility using range contraction/expansion.

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MACD

The Moving Average Convergence Divergence indicator.

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Bollinger Bands

The Bollinger Bands using a 20-day period +/- 2 standard deviations.

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Price Range Low/High

Tracking volatility using contraction/expansion of trading ranges.

7-day » 30-day » 90-day »

Profitable Trading Days

How many days have Bitcoin prices been in the green?.

View Chart! »





Bitcoin Derivatives Metrics

Analysis of the leverage within Futures and Options markets.

Futures Open Interest

Open Interest in futures markets.

USD » BTC »

Futures Trade Volume

Daily Trade Volume in futures markets.

USD » BTC »

Futures Funding Rates

The interest rate paid by leveraged traders in futures markets.

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Options Open Interest

Open Interest in options markets.

USD » BTC »

Options Trade Volume

Daily Trade Volume in options markets.

USD » BTC »