BTC: BEAM Index

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

The natural logarithm of the price divided by its 200-week (1,400-day) average, scaled down by 2.5: how far bitcoin stands from its multi-year trend.

Why use it. A long moving average barely changes from week to week, so the distance from it reads how stretched the market is against years of trading. The logarithm treats a doubling the same at any price level, which keeps a long history comparable. How to read it. Near 0 the price sits on its 200-week average. The peaks so far have stepped down from 1.11 (17 December 2017) through 0.73 (22 February 2021) to 0.37 (17 December 2024), and only about 9% of days have read below zero, with the lowest reading −0.17 on 22 November 2022. Read it against its own history rather than fixed lines.

Calculation. BEAM = ln(close ÷ mean of the last 1,400 daily closes) ÷ 2.5, from the 1,400th daily close of our price history (17 May 2014). Published open-source versions use shorter averages in the first years of trading; this chart does not, which is why it starts when a full 1,400 days exist. Uses our accepted daily closes.