Explain a spike on any chart
Open any chart and pick a moment, or follow an entry above: we set the chart’s reading that day against its own past year (how far from normal, and when it was last this high or low), add the coin’s price move that day, and list everything else our feed flagged around it, for that coin and across the market. Every line comes from our own data; nothing is guessed from news or social posts.
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What we flag
- Liquidations
- An hour of long or short liquidations above every hour of the past 30 days, at least six typical deviations above normal and at least $1 million ($5 million for BTC and ETH).
- Funding
- The hour’s perpetual funding rate at a 90-day high (0.02% or more) or low (−0.005% or less), at least four typical deviations from normal.
- Open interest
- Open interest up or down more in 24 hours than at any time in 90 days, by at least 8% (5% for BTC and ETH).
- Exchange inflows
- An hour of coins sent to exchanges above every hour of the past 30 days, at least six typical deviations above normal and worth at least $5 million ($25 million for BTC and ETH).
- Whales
- The day’s change in what BTC entities holding 1,000 to 100,000 BTC hold, at a one-year high or low.
- Old coins
- A day of coins aged five years or more moving at a one-year high (BTC, LTC, DOGE, BCH), and single transactions moving 100 BTC or more of coins unmoved for ten years.
- Stablecoins
- Stablecoin net issuance on Ethereum at a one-year high or low (at least $250 million), and single mints or burns of $100 million or more.
- MVRV zones
- MVRV entering the lowest or highest tenth of its own history after a week outside it, or crossing 1 after a week on the other side.
- Sharp moves
- Sharp moves our minute detector found, once ended: 4% or more for BTC and ETH, 15% or more for other coins.
- Large transfers
- Exchange deposits and withdrawals of $100 million or more, and any other transfer of $500 million or more. Exchanges and issuers are named; everyone else is an unknown wallet.
How an anomaly is judged
Each hour (and each day for daily charts) we judge the newest completed reading of every chart in the list above against the same chart’s own past: whether it is above (or below) everything in the window before it, and how many typical deviations it sits from the window’s median. A typical deviation is the median distance from that median, so one earlier spike does not hide the next. Each entry says when the chart was last this extreme, and the coin’s own price move over the same hour or day.
Levels: 3 when nothing was as extreme for a year or more, 2 for 90 days, 1 otherwise. A chart’s next entry on the same side within twelve hours is kept only when it reaches a higher level, so one long event is not listed hour after hour. Open hours and days are never judged. Futures data starts in October 2026, so those entries say how many days we hold until a year has passed.
What each plan sees
- Free: BTC and ETH, a day after we found them, the last seven days; the counts of every coin; the weekly report.
- Plus: every coin, in hourly batches, with the full archive and “explain a spike”.
- Pro: each event as we find it (we check every ten minutes) and the feed in the API with a key.
Where the data comes from
Everything comes from our own collection: the published charts (the same rows the charts, downloads and API serve), our Bitcoin and Ethereum nodes for transfers and old coins, our exchange and issuer labels, and our minute price capture for sharp moves. No news, social or paid data. Exchanges, stablecoin issuers and other organisations are named from our own labels; everyone else is an unknown wallet, and we show no address. The free view on this page is licensed CC BY 4.0: credit CryptoKeyhole with a link.
Questions
What counts as an anomaly?
A reading that is above (or below) everything its own chart showed in the window before it, by a wide margin: an hour of liquidations or exchange inflows the largest in 30 days, funding or a change in open interest the most extreme in 90 days, old coins, whale balances or stablecoin issuance at a one-year extreme, and MVRV entering its lowest or highest tenth or crossing 1.
Why is the free list a day late?
The free view shows BTC and ETH a day after we found each entry. Plus shows every coin as each hour ends, and Pro shows each entry as we find it.
Do you track wallets?
No. Exchanges and stablecoin issuers are named from our own labels; everyone else is an unknown wallet, and no address is stored or shown.
How do I explain a spike on a chart?
Open this page with the chart and the moment in the address, or follow an entry: we set that day’s reading against the chart’s past year, add the price move, and list what else our feed flagged around it. It is part of Plus.
Weekly anomaly reportSee the plansAll free tools
Entries on this page are found by CryptoKeyhole from our own nodes and market data. They describe what our data saw, not a cause it cannot show.