Value Investor

Compares Bitcoin's market cap to its realized cap (the average cost basis of all coins). Above 3.5 = historically overvalued, cycle top zone. Below 1.0 = historically undervalued, accumulation zone. 1.0-2.5 = fair value range. Data from CoinMetrics community API.

The periodic fee exchanged between long and short perpetual futures traders. Positive = longs pay shorts (bullish bias, market may be overleveraged long). Negative = shorts pay longs (bearish bias). Extreme positive (>0.05%) often precedes corrections. Data from OKX.

Ratio of top traders holding long vs short positions. Above 1.0 = more accounts are long. Below 1.0 = more accounts are short. Extreme readings can be contrarian signals — when everyone is long, a squeeze may follow. Data from OKX top traders.

Total value of outstanding perpetual futures contracts. Rising OI with rising price = strong trend. Rising OI with falling price = potential short squeeze setup. Falling OI = positions closing, trend weakening.

Total computational power securing the Bitcoin network, measured in exahashes per second (EH/s). Rising hash rate = growing network security and miner confidence. Significant drops may indicate miner capitulation.

Bitcoin's share of total crypto market cap. Rising dominance = capital flowing to BTC (risk-off). Falling dominance = capital flowing to altcoins (risk-on, "alt season"). Historical range: 40-70%.