Metrics Reference
Complete reference documentation for all blocklens on-chain analytics metrics. Each metric page includes detailed descriptions, formulas, interpretation guides, and API usage examples.
Market Data
Price, volume, and market capitalization metrics. 64 metrics available.
Spot
| Metric | Description | Tier |
|---|---|---|
| Price OHLC | Daily Open-High-Low-Close price data for Bitcoin — rendered as candlestick charts showing full intraday price range and direction | Basic |
| Symbol | Symbol identifier (e.g., BTC) used to filter price data | Basic |
| Price | BTC market price | Basic |
| Price Open | Daily opening price of BTC in USD | Basic |
| Price High | Daily highest price of BTC in USD | Basic |
| Price Low | Daily lowest price of BTC in USD | Basic |
| Price Close | Daily closing price of BTC in USD | Basic |
| Market Cap | Total market cap | Basic |
| Price Drawdown from ATH | Percentage decline of Bitcoin price from its all-time high — always 0% or negative, measuring how far price has fallen from its peak | Basic |
| Volume | 24h trading volume | Basic |
Cycle from Low
| Metric | Description | Tier |
|---|---|---|
| 2011-2015 Cycle (Low) | Bitcoin price from Nov 2011 bottom through Jan 2015 bottom | Basic |
| 2015-2018 Cycle (Low) | Bitcoin price from Jan 2015 bottom through Dec 2018 bottom | Basic |
| 2018-2022 Cycle (Low) | Bitcoin price from Dec 2018 bottom through Nov 2022 bottom | Basic |
| 2022+ Cycle (Low) | Bitcoin price from Nov 2022 bottom — current ongoing cycle | Basic |
Cycle from ATH
| Metric | Description | Tier |
|---|---|---|
| 2011-2013 Cycle (ATH) | Bitcoin price from Jun 2011 ATH ($35.88) through 2013 ATH | Basic |
| 2013-2017 Cycle (ATH) | Bitcoin price from Nov 2013 ATH ($1,156) through 2017 ATH | Basic |
| 2017-2021 Cycle (ATH) | Bitcoin price from Dec 2017 ATH ($20,089) through 2021 ATH | Basic |
| 2021-2025 Cycle (ATH) | Bitcoin price from Nov 2021 ATH ($68,790) through 2025 ATH | Basic |
| 2025+ Cycle (ATH) | Bitcoin price from Oct 2025 ATH ($126,198) — current cycle | Basic |
Cycle from Halving
| Metric | Description | Tier |
|---|---|---|
| 2012 Halving | Bitcoin price from first halving (Nov 2012, 50 to 25 BTC) | Basic |
| 2016 Halving | Bitcoin price from second halving (Jul 2016, 25 to 12.5 BTC) | Basic |
| 2020 Halving | Bitcoin price from third halving (May 2020, 12.5 to 6.25 BTC) | Basic |
| 2024 Halving | Bitcoin price from fourth halving (Apr 2024, 6.25 to 3.125 BTC) — current cycle | Basic |
Realized Volatility
| Metric | Description | Tier |
|---|---|---|
| Realized Volatility (1Y) | Annualized standard deviation of daily log-returns over a trailing 365-day window — measures how volatile BTC price has been over the past year | Basic |
| Realized Volatility (1W) | Annualized standard deviation of daily log-returns over the past 7 days — a real-time gauge of short-term BTC price turbulence | Basic |
| Realized Volatility (2W) | Annualized standard deviation of daily log-returns over the past 14 days — bridges instant noise and short-term trend volatility | Basic |
| Realized Volatility (1M) | Annualized standard deviation of daily log-returns over the past 30 days — the industry-standard short-term BTC volatility benchmark | Basic |
| Realized Volatility (3M) | Annualized standard deviation of daily log-returns over the past 90 days — tracks medium-term volatility across a full market phase | Basic |
| Realized Volatility (6M) | Annualized standard deviation of daily log-returns over the past 180 days — a slow-moving anchor for long-term volatility trend analysis | Basic |
Futures
Open Interest
| Metric | Description | Tier |
|---|---|---|
| Binance Open Interest | Close-of-day open interest on Binance BTC perpetual futures — the largest single venue by OI. | Pro |
| Bybit Open Interest | Close-of-day open interest on Bybit BTC perpetual futures. | Pro |
| OKX Open Interest | Close-of-day open interest on OKX BTC perpetual futures. | Pro |
| Deribit Open Interest | Close-of-day open interest on Deribit BTC perpetual futures. | Pro |
| Bitget Open Interest | Close-of-day open interest on Bitget BTC perpetual futures. | Pro |
| Gate.io Open Interest | Close-of-day open interest on Gate.io BTC perpetual futures. | Pro |
| Hyperliquid Open Interest | Close-of-day open interest on Hyperliquid, the leading decentralized perpetual futures exchange. | Pro |
| Futures Open Interest | Total futures open interest across all exchanges in USD | Basic |
| OI Change (USD) | Daily change in futures open interest in USD | Basic |
| OI Change (%) | Daily percentage change in futures open interest | Basic |
| Symbol | Symbol filter for aggregated open interest data | Basic |
| Total OI USD | Aggregated open interest across all tracked exchanges in USD | Basic |
| OI Delta USD | OI change USD | Basic |
| OI Delta % | OI change % | Basic |
| OI Exchange Count | Exchange count | Basic |
| Exchange | Exchange identifier for per-exchange open interest data | Pro |
| Symbol | Symbol filter for per-exchange open interest data | Pro |
| Per-Exchange Close OI | Exchange OI | Pro |
Funding Rates
| Metric | Description | Tier |
|---|---|---|
| Binance Funding Rate | Binance annualized funding rate | Pro |
| Bybit Funding Rate | Bybit annualized funding rate | Pro |
| OKX Funding Rate | OKX annualized funding rate | Pro |
| Deribit Funding Rate | Deribit annualized funding rate | Pro |
| Bitget Funding Rate | Bitget annualized funding rate | Pro |
| Gate.io Funding Rate | Gate.io annualized funding rate | Pro |
| Hyperliquid Funding Rate | Hyperliquid annualized funding rate | Pro |
| Symbol | Symbol filter for aggregated perpetual futures funding rate data | Basic |
| Annualized Funding Rate (OI-Weighted) | OI-weighted average annualized funding rate across 7 exchanges | Basic |
| Median Funding Rate | Median funding rate | Basic |
| Min Funding Rate | Min funding rate | Basic |
| Max Funding Rate | Max funding rate | Basic |
| Active Exchanges | Number of exchanges reporting funding data | Basic |
| Exchange | Exchange identifier for per-exchange funding rate data | Pro |
| Symbol | Symbol filter for per-exchange funding rate data | Pro |
| Per-Exchange Funding Rate | Exchange funding rate | Pro |
| Per-Exchange Close OI | Exchange OI | Pro |
Coming soon.
Supply Analysis
Holder supply distribution segmented by Long-Term and Short-Term Holders. 18 metrics available.
| Metric | Description | Tier |
|---|---|---|
| Circulating Supply | Total BTC ever mined | Basic |
| Cost Basis Distribution | Heatmap of Bitcoin supply distribution by cost basis price over time | Enterprise |
| LTH Supply | Long-term holder supply | Basic |
| STH Supply | Short-term holder supply | Basic |
| UTXO Token Amount | BTC per cohort | Basic |
| UTXO USD Value | USD per cohort | Basic |
Supply by Age
| Metric | Description | Tier |
|---|---|---|
| Supply <24h | BTC in UTXOs < 24h old | Basic |
| Supply 1d-1w | BTC in UTXOs 1d-1w old | Basic |
| Supply 1w-1m | BTC in UTXOs 1w-1m old | Basic |
| Supply 1m-3m | BTC in UTXOs 1m-3m old | Basic |
| Supply 3m-6m | BTC in UTXOs 3m-6m old | Basic |
| Supply 6m-12m | BTC in UTXOs 6m-12m old | Basic |
| Supply 1y-2y | BTC in UTXOs 1y-2y old | Basic |
| Supply 2y-3y | BTC in UTXOs 2y-3y old | Basic |
| Supply 3y-5y | BTC in UTXOs 3y-5y old | Basic |
| Supply 5y-7y | BTC in UTXOs 5y-7y old | Basic |
| Supply 7y-10y | BTC in UTXOs 7y-10y old | Basic |
| Supply 10y+ | BTC in UTXOs 10y+ old | Basic |
Valuation Metrics
Realized capitalization, realized price, and MVRV ratios for assessing fair value. 48 metrics available.
| Metric | Description | Tier |
|---|---|---|
| Realized Cap | Sum of LTH + STH realized cap | Basic |
| Realized Price | Realized Cap / Circulating Supply | Basic |
| Average Cap | Life-to-date cumulative moving average of Market Cap — smooths out short-term volatility to reveal the long-term fair value trajectory of Bitcoin's network | Basic |
| Block Price Trend (BPT) | Cumulative indicator that tracks the relationship between Bitcoin block production rate and price movements — rising BPT signals alignment between mining activity and positive price action | Basic |
| Blocklens-Mayer | Ratio of Bitcoin price to Short-Term Holder (STH) Realized Price — an on-chain alternative to the traditional Mayer Multiple that uses cost basis instead of SMA-200 | Basic |
| Mayer Multiple | Ratio of Bitcoin price to its 200-day simple moving average (SMA-200), indicating whether BTC is overvalued or undervalued relative to its long-term trend | Basic |
| Delta Cap | Realized Cap minus Average Cap — a valuation floor model that historically marks Bitcoin absolute market cycle bottoms | Basic |
| Thermo Cap | Cumulative miner revenue at time of issuance — measures the total cost basis of all mined Bitcoin valued at the price on their creation date | Basic |
| Volume Price Trend (VPT) | Cumulative volume-weighted price momentum indicator that confirms trend strength by measuring whether volume flows into or out of an asset | Basic |
| Delta Price | Delta Cap per BTC — an on-chain derived price floor that has historically marked absolute Bitcoin cycle bottoms | Basic |
| Market Cap / Thermo Cap Ratio | Market valuation relative to cumulative miner cost basis — high values suggest overvaluation vs production cost, low values suggest undervaluation | Basic |
| Money Flow Index (MFI) | Volume-weighted momentum oscillator (0-100) combining price and volume to identify overbought/oversold conditions and potential reversals | Basic |
| Balanced Price | Realized Price minus Transferred Price — marks full capitulation and accumulation bottoms | Basic |
| Investor Cap | Value paid by investors (excluding miners) for their Bitcoin holdings — the aggregate cost basis of all non-miner participants in the network | Basic |
| On-Balance Volume (OBV) | Cumulative volume flow indicator that tracks whether volume is flowing into or out of an asset based on price direction | Basic |
| Accumulation/Distribution Line (ADL) | Cumulative volume indicator weighted by where the close falls within the daily range, revealing accumulation and distribution patterns | Basic |
| Investor Cap Price | Average price paid by investors (excluding miners) per Bitcoin — derived from Investor Cap divided by circulating supply | Basic |
| LTH Realized Cap | LTH realized market cap | Basic |
| STH Realized Cap | STH realized market cap | Basic |
| LTH Realized Price | LTH cost basis | Basic |
| STH Realized Price | STH cost basis | Basic |
| MVRV | Ratio of market value to realized value across all holders | Basic |
| LTH MVRV | LTH profit ratio | Basic |
| STH MVRV | STH profit ratio | Basic |
Realized Price by Age
| Metric | Description | Tier |
|---|---|---|
| Realized Price <24h | Cost basis of UTXOs < 24h | Basic |
| Realized Price 1d-1w | Cost basis of UTXOs 1d-1w | Basic |
| Realized Price 1w-1m | Cost basis of UTXOs 1w-1m | Basic |
| Realized Price 1m-3m | Cost basis of UTXOs 1m-3m | Basic |
| Realized Price 3m-6m | Cost basis of UTXOs 3m-6m | Basic |
| Realized Price 6m-12m | Cost basis of UTXOs 6m-12m | Basic |
| Realized Price 1y-2y | Cost basis of UTXOs 1y-2y | Basic |
| Realized Price 2y-3y | Cost basis of UTXOs 2y-3y | Basic |
| Realized Price 3y-5y | Cost basis of UTXOs 3y-5y | Basic |
| Realized Price 5y-7y | Cost basis of UTXOs 5y-7y | Basic |
| Realized Price 7y-10y | Cost basis of UTXOs 7y-10y | Basic |
| Realized Price 10y+ | Cost basis of UTXOs 10y+ | Basic |
Realized Cap by Age
| Metric | Description | Tier |
|---|---|---|
| Realized Cap <24h | Realized cap of UTXOs < 24h | Basic |
| Realized Cap 1d-1w | Realized cap of UTXOs 1d-1w | Basic |
| Realized Cap 1w-1m | Realized cap of UTXOs 1w-1m | Basic |
| Realized Cap 1m-3m | Realized cap of UTXOs 1m-3m | Basic |
| Realized Cap 3m-6m | Realized cap of UTXOs 3m-6m | Basic |
| Realized Cap 6m-12m | Realized cap of UTXOs 6m-12m | Basic |
| Realized Cap 1y-2y | Realized cap of UTXOs 1y-2y | Basic |
| Realized Cap 2y-3y | Realized cap of UTXOs 2y-3y | Basic |
| Realized Cap 3y-5y | Realized cap of UTXOs 3y-5y | Basic |
| Realized Cap 5y-7y | Realized cap of UTXOs 5y-7y | Basic |
| Realized Cap 7y-10y | Realized cap of UTXOs 7y-10y | Basic |
| Realized Cap 10y+ | Realized cap of UTXOs 10y+ | Basic |
Profit & Loss
Realized and unrealized profit/loss, and SOPR for measuring market profitability. 13 metrics available.
| Metric | Description | Tier |
|---|---|---|
| LTH NUPL | Net Unrealized Profit/Loss ratio for Long-Term Holders | Pro |
| NUPL | Net Unrealized Profit/Loss as a ratio of market cap | Pro |
| STH NUPL | Net Unrealized Profit/Loss ratio for Short-Term Holders | Pro |
| LTH Unrealized P/L | LTH paper gains/losses | Pro |
| SOPR | Aggregate profit ratio of spent outputs | Pro |
| STH Unrealized P/L | STH paper gains/losses | Pro |
| LTH Realized P/L | LTH daily realized gains | Pro |
| STH Realized P/L | STH daily realized gains | Pro |
| LTH SOPR | LTH spending profit ratio | Pro |
| STH SOPR | STH spending profit ratio | Pro |
| Unrealized P/L | Aggregate unrealized profit/loss across all holders (Market Cap - Realized Cap) | Basic |
| Realized P/L | Aggregate realized profit/loss across all holders (LTH + STH) | Basic |
| Supply in Profit (%) | Share of total supply where cost basis is below current market price | Basic |
Blockchain
Network fundamentals: block height, hash rate, difficulty, and other blockchain-level metrics. 2 metrics available.
| Metric | Description | Tier |
|---|---|---|
| Block Height | Total number of blocks mined in the Bitcoin blockchain | Basic |
| Blocks Mined | Number of new blocks mined per day on the Bitcoin network | Basic |
Coin Days
Coin-day metrics measuring the economic weight and dormancy of Bitcoin transactions. 11 metrics available.
| Metric | Description | Tier |
|---|---|---|
| Coin Days Destroyed | Sum of coin age × amount for all spent UTXOs per day — a fundamental measure of on-chain economic activity | Basic |
| Net Coin Days | Coin Days Created minus Coin Days Destroyed — positive means the network is aging (accumulating), negative means old coins are moving | Basic |
| Coin Days Accumulated | Running total of all coin-days ever created minus all coin-days ever destroyed — the total stored economic energy in the network | Basic |
| Liveliness | Cumulative CDD / CDC ratio — higher values indicate more old coins moving, lower values indicate HODLing dominance | Basic |
| Vaultedness | CDA / cumCDC ratio — higher values indicate stronger HODLing behavior, lower values indicate more spending of old coins | Basic |
| Binary CDD | Binary signal for above-average coin-day destruction — filters noise from raw CDD | Basic |
| Supply-Adjusted CDD | CDD per BTC in circulation — normalizes destruction for supply growth across market cycles | Basic |
| Transferred Price | Life-to-date average price weighted by coin-day destruction — a spending-behavior-derived price floor | Basic |
| Transfer Volume | Daily on-chain BTC transfer volume derived from UTXO spending activity | Pro |
| Dormancy | Average lifespan of spent coins in days — high dormancy means old coins are moving | Pro |
| Dormancy Flow | Dormancy relative to its yearly average — above 1 means old coins moving more than usual | Pro |
ETF Analytics
Bitcoin ETF metrics: holdings, flows, AUM, dominance, and cost-basis analysis across all tracked ETF products. 25 metrics available.
| Metric | Description | Tier |
|---|---|---|
| ETF Count | Number of active Bitcoin ETF products tracked | Basic |
| ETF US AUM | Total assets under management for US-listed Bitcoin ETF products | Basic |
| Total BTC in ETFs | Aggregate BTC held by all ETFs | Basic |
| Total ETF AUM | Aggregate AUM of all BTC ETFs | Basic |
| ETF Daily Net Flow (BTC) | Daily BTC net flow into/out of ETFs | Basic |
| ETF Cumulative Flow (BTC) | Cumulative BTC net flow into ETFs | Basic |
| ETF Cumulative Money Flow | Cumulative USD invested into ETFs | Basic |
| ETF Realized Price | Average cost basis of ETF-held BTC | Basic |
| US Spot ETF Realized Price | US spot ETF average cost basis from Jan 2024 | Basic |
| US Spot ETF Cumulative Money Flow | Cumulative USD flow for US spot ETFs from Jan 2024 | Basic |
| ETF BTC Dominance | ETF share of circulating BTC supply | Basic |
| US ETF BTC Holdings | BTC held by US-listed ETFs | Basic |
| ETF Avg Premium/Discount | Weighted avg ETF premium/discount | Basic |
Fund Analysis
| Metric | Description | Tier |
|---|---|---|
| ETF BTC Holdings (Per Fund) | BTC held by a single ETF fund | Pro |
| ETF Net Flow (Per Fund) | Daily BTC bought or sold by a specific ETF fund (positive = inflow, negative = outflow) | Pro |
| ETF Cumulative Flow (Per Fund) | Running sum of all daily BTC flows for a specific ETF fund since inception | Pro |
| ETF Market Share (Per Fund) | Percentage of total ETF Bitcoin holdings belonging to a specific fund | Pro |
| ETF NAV/Share | NAV per share | Pro |
| ETF Market Price | Market price | Pro |
| ETF Realized Cap (Per Fund) | WAC-based USD cost of all BTC held by a specific ETF fund | Pro |
| ETF Realized Price (Per Fund) | Average BTC acquisition price (cost basis) for a specific ETF fund | Pro |
| ETF Shares Outstanding | Shares outstanding | Pro |
| ETF AUM (Per Fund) | Per-fund total AUM in USD | Pro |
| ETF Volume | Daily trading volume for individual Bitcoin ETF funds | Pro |
| ETF Premium/Discount | Premium/discount | Pro |
Digital Asset Treasuries
Corporate and institutional Bitcoin holdings: aggregate treasury metrics, entity breakdowns, and per-company analysis. 30 metrics available.
| Metric | Description | Tier |
|---|---|---|
| DAT Entity AUM | Per-entity AUM in USD | Pro |
| DAT Entity Cumulative Flow | Running sum of daily flow changes for a DAT entity | Pro |
| DAT Entity Market Share | Entity share of total DAT holdings | Pro |
| DAT Entity Net Flow | Daily change in holdings for a DAT entity | Pro |
| DAT Entity Realized Price | Average purchase price per BTC — the entity's effective entry point into Bitcoin. | Pro |
| DAT Entity Cost Basis | Total dollars spent acquiring Bitcoin — the entity's aggregate investment in BTC. | Pro |
| DAT Government Realized Price | Volume-weighted average acquisition price per BTC across all tracked government and sovereign entities — reveals the collective entry point of state-level Bitcoin holders. | Basic |
| DAT Public Realized Price | Volume-weighted average acquisition price per BTC across all tracked public companies — the collective entry point of corporate Bitcoin treasuries. | Basic |
| DAT Private Realized Price | Volume-weighted average acquisition price per BTC across all tracked private companies — the collective entry point of non-public Bitcoin holders. | Basic |
| DAT Realized Price (Total) | Volume-weighted average acquisition price per BTC across ALL tracked institutional and sovereign entities — the institutional 'realized price' of Bitcoin. | Basic |
| DAT Top Holder BTC | Bitcoin holdings of the single largest institutional holder | Basic |
| DAT Top Holder Name | Name of the entity with the largest Bitcoin holdings | Basic |
| DAT BTC Price | Bitcoin price recorded alongside DAT aggregate data for valuation context | Basic |
| DAT Cumulative BTC | Running total of all institutional Bitcoin acquisitions over time | Basic |
| DAT BTC Holdings | Total BTC held by institutions, governments, and other entities | Basic |
| DAT Holders Count | Count of entities holding BTC | Basic |
| DAT BTC Net Change | Daily net change in total DAT BTC | Basic |
| DAT Cumulative Money Flow | Cumulative USD flow from DAT net changes | Basic |
| DAT BTC % of Supply | DAT BTC as % of circulating supply | Basic |
| DAT BTC USD Value | USD value of all DAT BTC | Basic |
| DAT Entity BTC Holdings | Per-entity BTC holdings over time | Pro |
| DAT Entity USD Value | Per-entity BTC USD value over time | Pro |
| DAT Entity % of Supply | Per-entity % of BTC supply over time | Pro |
| DAT Holdings (Per Entity) | Per-entity BTC holdings history | Pro |
Public Companies
| Metric | Description | Tier |
|---|---|---|
| DAT Public Company Count | Number of publicly traded companies holding Bitcoin on their balance sheet | Basic |
| DAT Public BTC | BTC held by publicly traded companies | Basic |
Private Companies
| Metric | Description | Tier |
|---|---|---|
| DAT Private Company Count | Number of private companies holding Bitcoin on their balance sheet | Basic |
| DAT Private BTC | BTC held by private companies | Pro |
Governments
| Metric | Description | Tier |
|---|---|---|
| DAT Government Count | Number of government entities holding Bitcoin | Basic |
| DAT Government BTC | BTC held by national governments | Basic |