Is Bitcoin cheap or expensive?

Is BTC Cheap? estimates whether Bitcoin is cheap or expensive with a 1 to 100 index. It combines on-chain valuation, the four-year halving cycle, global liquidity, market sentiment and technical analysis metrics, and can be checked on timeframes from 1 hour to 1 month.

Frequently asked questions

How is the index calculated?

Each metric is turned into a score from 0 (cheap) to 100 (expensive) based on its percentile over the last 4 years, a full halving cycle. Metrics are grouped into five categories, each category is weighted according to the selected timeframe, and the result is rescaled from 1 to 100.

Which metrics does it use?

On-chain valuation: MVRV, Puell Multiple and Mayer Multiple. Cycle: halving cycle phase, power law deviation and distance to the 200-week moving average. Liquidity: global liquidity from the major central banks (Fed, ECB and Bank of Japan), M2 money supply, dollar strength and stablecoin supply. Sentiment: Fear & Greed Index, short-term holders' SOPR, spot ETF flows, funding rate and, on 1h and 4h, leverage and positioning in Binance futures. Technical: RSI, Bollinger Bands and distance to the moving average.

Which timeframe should I look at?

On 1 hour and 4 hours, technical analysis and sentiment weigh more, and the index reacts to current moves. On 1 day, 1 week and 1 month, on-chain valuation and the cycle weigh more, showing whether Bitcoin is cheap or expensive over the medium and long term.

Has it worked in the past?

Historically, the index read between 7 and 9 at the 2015, 2018, 2020 and 2022 bottoms, and between 82 and 98 at the 2013, 2017, 2021, 2024 and 2025 tops. Bitcoin has only had a few full cycles, so these results describe the past and do not guarantee the future.

How often is it updated?

On-chain, cycle and liquidity metrics are recalculated once a day. Price, technical analysis and derivatives data update live every few minutes. News refreshes every 15 minutes during market hours and the economic calendar every hour.

Where does the data come from?

From public sources: Coin Metrics, Alternative.me, FRED (Federal Reserve Bank of St. Louis), DefiLlama, Bitview (Bitcoin Research Kit), The Commoner Bitcoin ETF Tracker by TFTC, Binance, Forex Factory and outlets such as Cointelegraph, CoinDesk, Decrypt, Investing.com, CNBC and BBC.

Is this investment advice?

No. Is BTC Cheap? is a free, ad-free informational tool. It is not financial advice: every investment decision is each person's own responsibility.