BTC: Sender-Return-Adjusted Transfer Value — Halving-Day Index

Bitcoin Sender-Return-Adjusted Transfer Value — Halving-Day Index was 110.53% on 7 Nov 2026 (latest daily value).

Daily sender-return-adjusted transfer value in USD, indexed to 100 on the UTC day of each halving and restarting every epoch.

Why use it. Compare on-chain transfer value at the same stage of different halving epochs on a common scale. How to read it. 100 equals the halving-day value; 300 means three times 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. The baseline is the whole halving UTC day's flow, so it is not knowable before that day closes. The transfer parent removes only its documented sender-return outputs; it is not entity-adjusted settlement. Closed days only; earlier prices are retrospective.

Calculation. 100 × the day's sender-return-adjusted transfer USD / its value on the UTC day containing canonical height 210,000 × k for the current epoch. The parent drops outputs returning to a supported input address of the same transaction and values the day's flow at its admitted ending USD quote; no genesis USD price is manufactured. Halving dates come from retained native headers, not a hardcoded calendar. Decimal division then multiplication at 40 significant digits, half-even, on local canonical Bitcoin data.