BTC WEEKLY
Health Meter
Composite Score
Robust
Healthy
Mixed
Strained
Fragile
25
Strained
Robust = miners adding capacity, companies and US buyers accumulating, coins leaving exchanges, new dollars arriving, leverage calm. Fragile = the opposite. Not a price signal.
Tracks whether Bitcoin's network security, demand, holder base and liquidity are strengthening or weakening. Seven free, public data streams, measured in Bitcoin's own units where possible. Refreshes daily.
Sub-scores
Network
59
Hashrate trend · fee share
Demand
24
Corporate BTC added · Coinbase premium
Holders
6
Exchange balances
Liquidity
0
Stablecoin supply
Leverage
100
Perp funding
Inputs
Hashrate Trend (30d vs 90d)Average mining power over the last 30 days divided by the last 90. Above 1 means miners are plugging in more machines.
78
Ratio 1.049 · 30d avg 1018 EH/s
CoinMetrics — ranked against the last two years
Fee Share of Miner Revenue (30d)Transaction fees as a share of what miners earn; the rest is new issuance, which halves every four years. Higher means more demand for block space and a security budget less dependent on the subsidy.
16
0.61% of miner revenue
CoinMetrics — ranked against the last two years
Corporate BTC Added (30d)Net bitcoin added over 30 days by the largest public-company treasuries, counted in BTC rather than dollars, so it reflects buying, not price.
36
+10,096 BTC · 25 companies tracked
CoinGecko public treasuries
Coinbase Premium (7d)Coinbase's BTC-USD price versus OKX's BTC-USDT price. A positive gap means US buyers, including the custody flows behind spot ETFs, are bidding harder than the offshore market.
7
-0.132%
Coinbase · OKX daily closes — ranked against the last two years
Exchange Balances (30d Δ)Bitcoin held in exchange wallets, change over 30 days. Coins leaving exchanges are usually being held; coins arriving are usually there to be sold. Falling balances score higher.
6
+1.75% · 2,723,131 BTC on exchanges
CoinMetrics — exchange wallets are estimated by address labelling
Stablecoin Supply (30d Δ)Total supply of all USD stablecoins, change over 30 days. New stablecoins are new dollars entering crypto; shrinking supply means dollars leaving.
0
$287.8B · -5.33%
DefiLlama (all USD stablecoins) — ranked against the last two years
Perp Funding (7d, annualized)What leveraged traders pay to hold perpetual futures. Near zero to mildly positive is calm. Very positive means crowded longs; very negative means forced unwinding. Both extremes score low.
100
+3.3%
Deribit BTC perpetual — fixed scale, best between 0% and 8%
Context (not scored)
Strategy holds 850,364 BTC · mNAV 1.07× · STRC $99.96 vs $100 par
Shown for reference. Share-price ratios move with BTC, so they are not part of the score; Strategy's actual purchases count through Corporate BTC Added.
Methodology. Seven inputs roll up into five sub-scores: Network 25%, Demand 30%, Holders 20%, Liquidity 15%, Leverage 10%. Each input is ranked against its own last two years, so 50 means a typical day and 90 means stronger than 90% of them. Funding is the exception: it uses a fixed scale where calm positioning scores highest. The weighted total is smoothed over about a week and ranked against its own two-year history, so each label covers roughly a fifth of days. Code:
Not a price signal. Inputs count actions — machines plugged in, bitcoin bought, coins withdrawn, stablecoins minted — in Bitcoin's own units where possible. Sentiment and valuation measures are excluded. Some link to price is unavoidable, so every run checks how closely the meter's weekly change tracks BTC's weekly return: currently 0.24 over the last 365 days.
Limits. Corporate holdings cover the 25 largest public companies, with one year of history. Spot ETF flows are not included because no free source is reliable enough. Exchange balances rely on address labelling and are estimates.
Sources. CoinMetrics community · mempool.space · CoinGecko · Coinbase · OKX · Deribit · DefiLlama.
scripts/fetch-health-meter.js.
Not a price signal. Inputs count actions — machines plugged in, bitcoin bought, coins withdrawn, stablecoins minted — in Bitcoin's own units where possible. Sentiment and valuation measures are excluded. Some link to price is unavoidable, so every run checks how closely the meter's weekly change tracks BTC's weekly return: currently 0.24 over the last 365 days.
Limits. Corporate holdings cover the 25 largest public companies, with one year of history. Spot ETF flows are not included because no free source is reliable enough. Exchange balances rely on address labelling and are estimates.
Sources. CoinMetrics community · mempool.space · CoinGecko · Coinbase · OKX · Deribit · DefiLlama.