BTC: Closing Quote / 120-Day EMA

Bitcoin Closing Quote / 120-Day EMA was 0.983 on 7 Nov 2026 (latest daily value).

BTC's daily closing quote divided by its 120-day exponential moving average.

Why use it. Compare the close with a slow exponential price mean, used as a price-only young-cost approximation rather than an observed cost basis. How to read it. 1 means the close equals its 120-day EMA; above 1 it is higher, below 1 lower. This price-only ratio is not an observed UTXO cost basis or ownership cohort. A missing or nonpositive quote resets the average, so values return only after a new full 120-day seed. Points are UTC days labelled at the day start, the open day a labelled partial, with no interpolation; values are provisional and revisable. This is a price comparison, not a forecast.

Calculation. Divide each positive admitted daily closing quote by its 120-day EMA. The EMA seeds with the arithmetic mean of the first 120 adjacent positive quotes, then updates with alpha = 2/121; any missing or nonpositive input resets the state and requires a new full seed. Historical quotes are retrospective, with unknown original publication time and venue. The full retained history is computed before the view is selected.