# 我常用的一些On-chain Analysis指标分享

**Published by:** [Wheatman ⚛| xiaolai](https://paragraph.com/@wheatman-xiaolai/)
**Published on:** 2022-04-06
**URL:** https://paragraph.com/@wheatman-xiaolai/on-chain-analysis

## Content

Tranditional Market Greed & Fear Index https://money.cnn.com/data/fear-and-greed/ 美元指数 https://cn.investing.com/indices/usdollar VIX https://www.investing.com/indices/volatility-s-p-500 SP500 https://www.investing.com/indices/us-spx-500 SP500 PE ratio https://www.multpl.com/s-p-500-pe-ratio Shiller PE ratio https://www.multpl.com/shiller-pe SP500 PS ratio https://www.multpl.com/s-p-500-price-to-sales Earnings https://www.multpl.com/s-p-500-earnings-yield 10 year treasury rate https://www.multpl.com/10-year-treasury-rate AAII散户投资人情绪指标 https://sc.macromicro.me/charts/20966/AAII-niu-xiong-zhi-biao https://sc.macromicro.me/charts/20828/us-aaii-sentimentsurvey Crypto Market Sentiment Greed & Fear Index https://alternative.me/crypto/fear-and-greed-index/ https://money.cnn.com/data/fear-and-greed/ Miner & Hash Rate Hashrate https://www.blockchain.com/charts/hash-rate Hash Ribbon The Hash Ribbon is a market indicator that assumes that Bitcoin tends to reach a bottom when miners capitulate, i.e. when Bitcoin becomes too expensive to mine relative to the cost of mining. The Hash Ribbon indicates that the worst of the miner capitulation is over when the 30d MA of the hash rate crosses above the 60d MA (switch from light red to dark red areas). Times when this occurs and the price momentum switches from negative to positive have shown to be good buying opportunities (switch from dark red to white). The Hash Ribbon was created by Charles Edwards. For more information read his introductory article. https://studio.glassnode.com/metrics?a=BTC&category=Favorites&chartStyle=column&ema=0&m=indicators.HashRibbon&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1522599598&u=1649116800&zoom= Supply & Demand 稳定币 Transfer Volume USDT Transfer Volume https://studio.glassnode.com/metrics?a=USDT&category=Volume&ema=7&m=transactions.TransfersVolumeSum&mAvg=0&mMedian=0&s=1603051563&u=1649203200&zoom= USDC Transfer Volume https://studio.glassnode.com/metrics?a=USDC&category=Volume&ema=7&m=transactions.TransfersVolumeSum&mAvg=0&mMedian=0&s=1603051563&u=1649203200&zoom= Exchange Net Position Change 交易所 净流入/流出 https://studio.glassnode.com/metrics?a=BTC&category=&chartStyle=column&m=distribution.ExchangeNetPositionChange&s=1491333475&u=1649013475&zoom=1825 Stablecoin Supply Ratio (SSR) Oscillator https://studio.glassnode.com/metrics?a=BTC&category=&chartStyle=column&m=indicators.SsrOscillator&mScl=lin&pScl=lin&s=1564945119&u=1649203200&zoom= 图中还是区分为绿色光柱，红色光柱以及蓝色光柱，绿色光柱是指为稳定币的供应震荡完全在正数的阶段，而红色是稳定币供应的负值与正值的交接，意味着上升阶段的开始，而蓝色是代表了稳定币供应的正值与负值的交易，意味着下降阶段的开始。 在这四年的数据中我们可以发现，当绿色光柱所代表的稳定币供应的震荡值处于正数并且是上升趋势的时候，都是BTC的价格在上升的时候，虽然最高的峰值并不能代表BTC价格的顶端，但是当震荡值低于0.5，并且处于下行阶段的时候，往往对应的都是BTC的最高价格，而蓝色光柱的区间则基本上代表了逃顶的最后时段，从此之后一定会进入按月来计算的底部震荡区间。 0.5, 逃顶点位 -2，抄底点位 Supply Last Active 1m-3m https://studio.glassnode.com/metrics?a=BTC&category=&m=supply.Active1M3M Average Cost, Realized Gain Realized Price 总资金购买成本，跌穿黄线 = 跌穿成本 = 大规模的恐慌抛售 和 绝望情绪 https://studio.glassnode.com/metrics?a=BTC&category=&ema=7&m=market.PriceRealizedUsd&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1318030392&u=1649203200&zoom= Realized Price to Liveliness Realized Price / Liveliness (橙色） Realized Price （蓝色） 价格高于 橙色线 代表 牛市区间 价格低于 橙色线 进入 熊市区间 价格跌破 蓝色线 代表 抄底区间 Realized Cap HODL wave https://studio.glassnode.com/metrics?a=BTC&category=&ema=30&m=supply.RcapHodlWaves&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1321161899&u=1649203200&zoom= RHODL Ratio 从 Realized Cap HODL wave 衍生出来的，红色区域代表短期和新入场资金较多 逃顶，绿色区域代表长期和信仰资金较多 坚守抄底 https://studio.glassnode.com/metrics?a=BTC&category=Market%20Indicators&ema=0&m=indicators.RhodlRatio&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1429246931&u=1649203200&zoom= https://www.qkl123.com/data/rhodl/btc https://www.lookintobitcoin.com/charts/rhodl-ratio/ AHR999囤币指标 https://www.qkl123.com/data/ahr999/btc Entity-Adjusted Dormancy Flow 不错的 底部 指标 https://studio.glassnode.com/metrics?a=BTC&category=&m=indicators.DormancyFlow Entity-Adjusted Realized Cap https://studio.glassnode.com/metrics?a=BTC&category=&ema=0&m=indicators.RcapAccountBased&mAvg=0&mMedian=0&mScl=lin&pScl=log&s=1490944399&u=1649203200&zoom= NUPL (Net Unrealized Profit/Loss) https://studio.glassnode.com/metrics?a=BTC&category=&ema=0&m=indicators.NetUnrealizedProfitLoss&mAvg=0&mMedian=0&mScl=lin&pScl=log&s=1490944399&u=1649203200&zoom= https://studio.glassnode.com/metrics?a=ETH&category=&ema=0&m=indicators.NetUnrealizedProfitLoss&mAvg=0&mMedian=0&mScl=lin&pScl=log&s=1482049339&u=1649203200&zoom= https://www.lookintobitcoin.com/charts/relative-unrealized-profit--loss/ 观测蓝色顶部，和红色底部的优质 逃顶 和 抄底 指标 Puell Multiple The Puell Multiple is calculated by dividing the daily issuance value of bitcoins (in USD) by the 365-day moving average of daily issuance value. This metric was created by David Puell. For a detailed description see this article by @cryptopoiesis. 主要看BTC最近价格 和 平均价格比例，0.5以下 很好的抄底区间 https://studio.glassnode.com/metrics?a=BTC&category=Market%20Indicators&ema=0&m=indicators.PuellMultiple&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1519459200&u=1649203200&zoom= BTC：SOPR https://bgeometrics.com/bitcoin-realized-price-3/ BTC: Coin Days Destroyed 90D Coin Days Destroyed is the 90 day rolling sum of Coin Days Destroyed (CDD) and shows the amount of coin days that have been destroyed over the past year. This version is age-adjusted meaning that we normalize by time in order to account for the increasing baseline as time goes by. 链上大趋势的观察指标，大级别的高点和低点都会有活跃的CDD指标 https://studio.glassnode.com/metrics?a=BTC&category=&chartStyle=column&ema=0&m=indicators.Cdd90AgeAdjusted&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1475846714&u=1649116800&zoom= https://blockchair.com/bitcoin/charts/coindays-destroyed Liveliness Derived From CDD https://studio.glassnode.com/metrics?a=BTC&category=&chartStyle=line&ema=0&m=indicators.Liveliness&mAvg=0&mMedian=0&mScl=lin&pScl=log&s=1316097329&u=1649203200&zoom= BTC：币价成本 http://charts.woobull.com/bitcoin-price-models/ Long-Term HODL / Smart Money Total Supply Held by Long-Term Holder T3数据 glassnode Accumulation Trend Score https://studio.glassnode.com/metrics?a=BTC&category=Market%20Indicators&chartStyle=column&ema=0&m=indicators.AccumulationTrendScore&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1490728715&u=1649116800&zoom= Dormancy Flow https://studio.glassnode.com/metrics?a=BTC&category=Favorites&chartStyle=column&ema=0&m=indicators.DormancyFlow&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1391874570&u=1649203200&zoom= Reserve Risk Reserve Risk is defined as price / HODL Bank. It is used to assess the confidence of long-term holders relative to the price of the native coin at any given point in time. When confidence is high and price is low, there is an attractive risk/reward to invest (Reserve Risk is low). When confidence is low and price is high then risk/reward is unattractive at that time (Reserve Risk is high). This metric was created by @hansthered. For more information see this article. https://studio.glassnode.com/metrics?a=BTC&category=Favorites&chartStyle=column&ema=0&m=indicators.ReserveRisk&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1474226428&u=1649203200&zoom= Realized Cap HODL wave https://studio.glassnode.com/metrics?a=BTC&category=&ema=30&m=supply.RcapHodlWaves&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1321161899&u=1649203200&zoom= 1Y+ HODL wave https://www.lookintobitcoin.com/charts/1-year-hodl-wave/ 期货市场可能导致的爆仓风险 Future Open Interest https://www.theblockcrypto.com/data/crypto-markets/futures Bitcoin future perpetual funding rate https://www.theblockcrypto.com/data/crypto-markets/futures/btc-funding-rates https://www.binance.com/en/futures/funding-history/1 越大于0% 越代表合约多头太多，奖金池太大，爆仓风险加大 Future Liquidation：All exchanges https://www.qkl123.com/data/futures/overview/hold 估值 MVRV Z-score Bitcoin is over/undervalued relative to its "fair value" https://studio.glassnode.com/metrics?a=BTC&category=Market%20Indicators&ema=0&m=market.MvrvZScore&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1454706836&u=1649203200&zoom= https://charts.woobull.com/bitcoin-mvrv-ratio/ https://www.qkl123.com/data/mvrv/btc BTC：PE Ratio (NVT) https://www.lookintobitcoin.com/charts/advanced-nvt-signal/ http://charts.woobull.com/bitcoin-nvt-ratio/ http://charts.woobull.com/bitcoin-nvt-signal/ http://charts.woobull.com/bitcoin-nvt-price/ https://studio.glassnode.com/metrics?a=BTC&category=Market%20Indicators&ema=0&m=indicators.NvtEntityAdjusted&mAvg=0&mMedian=0&mScl=log&pScl=log&s=1356747816&u=1649203200&zoom= 其他 Bitcoin Charts https://www.lookintobitcoin.com/charts/ BTC：VWAP http://charts.woobull.com/bitcoin-vwap-ratio/ BTC：log growth https://www.lookintobitcoin.com/charts/bitcoin-logarithmic-growth-curve/ BTC：Golden Ratio https://www.lookintobitcoin.com/charts/golden-ratio-multiplier/ BTC：难度彩虹 http://charts.woobull.com/bitcoin-difficulty-ribbon/ 均线 https://www.qkl123.com/data/ma730/btc DEFI：TVL https://defillama.com/chains BTC: Dominance https://www.qkl123.com/data/market-ratio/ Github Developer Activities https://app.santiment.net/screener/new?charts=%7B%22isPriceChartActive%22%3Afalse%2C%22isPriceTreeMap%22%3Afalse%2C%22isVolumeTreeMap%22%3Afalse%2C%22isMovement%22%3Afalse%2C%22priceBarChart%22%3A%7B%22interval%22%3A%2224h%22%7D%2C%22socialVolumeTreeMap%22%3A%7B%22interval%22%3A%2224h%22%7D%2C%22priceTreeMap%22%3A%7B%22interval%22%3A%2224h%22%7D%7D Messari 持仓 https://messari.io/screener/messari-research-2021-picks-563F4D12 Cosmos Ecosystem IBC transactions https://www.mapofzones.com/?testnet=false&period=720&tableOrderBy=totalIbcTxs&tableOrderSort=desc Dune - Total Defi Users https://dune.xyz/rchen8/defi-users-over-time

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