BTC: Actual-Issued Market Value — Halving-Day Index

Bitcoin Actual-Issued Market Value — Halving-Day Index was 119.11% on 7 Nov 2026 (latest daily value).

The USD market value of actually issued BTC, indexed to 100 on the UTC day of each halving and restarting every epoch.

Why use it. Compare how market value develops through each halving epoch from a common starting level. How to read it. 100 equals the halving-day value; 200 means twice it. Each halving day starts a new epoch with its own fixed baseline. A missing, zero or negative baseline leaves the whole epoch undefined, with no reseeding or filling, and no genesis USD price is manufactured. The baseline is the halving day's ending value, so it is not knowable before that day closes. Market value uses actual cumulative issuance, including later lost or unspendable coins. Closed days only; earlier prices are retrospective.

Calculation. 100 × the day's issued-supply market value / its ending value on the UTC day containing canonical height 210,000 × k for the current epoch. Market value is actual cumulative issuance valued at the admitted daily USD price. Halving dates come from retained native headers, not a hardcoded calendar, and the denominator stays fixed through the epoch. Decimal division then multiplication at 40 significant digits, half-even, on local canonical Bitcoin data.