BTC: Average Cap

Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.

The average of bitcoin's market value over its whole history to the day: every daily market value summed and divided by the number of days.

Why use it. A slow, cumulative anchor of what the market has been worth on average; it underpins models such as the top cap (35 times it) and delta cap (realized cap minus it). How to read it. Market value far above the average cap has come late in bull markets; it has been under it on only 79 days, the last in December 2011. A reference level, not a forecast.

Calculation. The published average issued-supply market value (all daily market values from the first priced day, divided by their number), unchanged. Calculated from our own validated Bitcoin Core node history at the accepted daily closes.