Miner Position Index


The Miner Position Index (MPI) is the z-score ratio of miner outflows to the 365-day moving average.

The MPI is an indicator of how much of the supply held by miners moved out as compared to the 365-day moving average of miner outflows. As the metric increases, miners are more involved in selling and sending their supply more than usual. As the metric decreases, miners are less involved in selling and sending their supply less than usual.

Use Case


Traders can use this to evaluate increases in BTC supply from miners, or a slower increase in supply from miners.


Analysts can use this metric to evaluate how miners are positioning based on the market cycle.


Researchers can use this metric to identify patterns in supply / demand during market peaks (such as ATHs).


MPI = Moving 365-day z-score (capitulation index)

Capitulation Index = Sum(Miner Outflows) / 365 DMA_Sum(Miner Outflows)

Frequently Asked Questions

How often is this chart updated?

  • Daily.