BTC: Miner Outflow Multiple (Miner Addresses, USD)
Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.
The US dollar value miners sent out of their addresses today, against its average over the last year, also called the miners' position index.
Why use it. Miners are the one group that must sell to pay for power and machines. When they send out far more than usual they are usually selling into the market or moving coins to sell, which has marked local tops and miner stress. How to read it. Around 1 is a normal day. Readings above 2 mean miners sent out more than twice their yearly average in dollars; below 0.5, they are holding back. Single days spike with large internal moves, so read it with the 7-day smoothing.
Calculation. Miner outflow (BTC) × the day's BTC/USD close ÷ the mean of the same dollar values over the 365 UTC days ending with the day; all 365 days are needed. Prices are the site's admitted closes at the next 00:00 UTC. Computed by CryptoKeyhole from its own Bitcoin node. Miner addresses are every address paid by a coinbase transaction; miner outflow is the value those addresses send to addresses outside that set, as on the Miner Outflow Volume chart, and miners to exchanges the part of it landing directly at the covered exchanges' labelled addresses. A pool paying its members counts as outflow. Days are UTC days by block header time; the open day is partial. BTC/USD prices are the site's admitted boundary prices: daily closes from The Bitcoin Time Machine (CC BY 4.0) until 2 October 2026, then quotes recorded from Alternative.me at each boundary (within 15 minutes, never carried forward). Hourly values start on 3 October 2026, when hourly quotes begin.