Cycle and valuation
Where Bitcoin sits in its cycle and how we measure it: the Score and its indicators, realized price, MVRV, SOPR, past tops and bottoms and the attempts to call them. Each piece explains one indicator with our own data, including when it has failed.
Bitcoin Exchange Reserves: Two Data Providers, Two Very Different Numbers, One Labeling Problem
Coin Metrics puts BTC on exchanges near 13.3% of supply; Santiment, via CoinDesk, at 6.6%. Same chain, different labeled addresses. Why the Score splits netflow from balance trend, and the outflows that preceded nothing.
