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BTC Thermocap Z-Score

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BTC Thermocap Indicator Overview

The BTC Thermocap is a specialized on-chain ratio indicator designed to provide deeper insight into Bitcoin's market valuation relative to its cumulative issuance. By comparing the current market price of Bitcoin to the total value of all BTC ever mined (also known as "thermocap"), this indicator helps identify potential overvaluation or undervaluation periods within the Bitcoin market cycle.

Key Features and Customizable Inputs:

Moving Average Length (MA Length)

Moving Average Type (MA Type) - SMA or EMA

Z-Score Calculation Length

Z-Score Toggle (Use Z-Score)
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BTC Thermocap Indicator Overview

The BTC Thermocap is a specialized on-chain ratio indicator designed to provide deeper insight into Bitcoin's market valuation relative to its cumulative issuance. By comparing the current market price of Bitcoin to the total value of all BTC ever mined (also known as "thermocap"), this indicator helps identify potential overvaluation or undervaluation periods within the Bitcoin market cycle.

Key Features and Customizable Inputs:

Moving Average Length (MA Length)

Moving Average Type (MA Type) - SMA or EMA

Z-Score Calculation Length

Z-Score Toggle (Use Z-Score)

The top is with Z-Score on, the bottom is without a Z-Score

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