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On-Chain Mind

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18 January 2026

7 New Metrics Added to the Indicator Suite

Today, I’m sharing 7 of my favourite metrics we’ve added recently. These are the tools I personally find provide the highest signal-to-noise ratio right now.

These tools range from tracking institutional flows, miner stocks, and even the hidden cost basis of altcoins!

Here is a quick look at how they work and why they deserve a permanent place in your analysis.

1. VDD Multiple

What it is: A high-conviction macro indicator that tracks the spending velocity of long-term holders by multiplying Coin Days Destroyed by Bitcoin’s price.

Why it’s useful: It identifies cycle tops. When short-term spending (30-day) vastly outpaces the yearly baseline, it signals that veterans are divesting at an unsustainable, peak-market rate.

1. VDD Multiple

What it is: A high-conviction macro indicator that tracks the spending velocity of long-term holders by multiplying Coin Days Destroyed by Bitcoin’s price.

Why it’s useful: It identifies cycle tops. When short-term spending (30-day) vastly outpaces the yearly baseline, it signals that veterans are divesting at an unsustainable, peak-market rate.

Bitcoin Value Days Destroyed

2. Altcoins Cost Bands

What it is: A probabilistic framework that algorithmically determines the short-term holder cost basis and volatility envelopes using liquidity-weighted price dynamics.

Why it’s useful: It objectively identifies "overbought" premiums and "capitulation" discounts. It is particularly powerful for analysing asset ratios (like ETH/BTC) to spot structural shifts in relative strength.

2. Altcoins Cost Bands

What it is: A probabilistic framework that algorithmically determines the short-term holder cost basis and volatility envelopes using liquidity-weighted price dynamics.

Altcoins Cost Bands

3. Bitcoin Sortino Ratio

What it is: A popular risk-adjusted return metric that focuses exclusively on "bad" volatility (downside risk) rather than total price swings.

Why it’s useful: It measures the efficiency of Bitcoin’s price action. Values above zero indicate healthy, high-conviction trends, while the orange gradient highlights periods of maximum reward relative to drawdown risk.

3. Bitcoin Sortino Ratio

What it is: A popular risk-adjusted return metric that focuses exclusively on "bad" volatility (downside risk) rather than total price swings.

Bitcoin Sortino Ratio

4. Miners Velocity RSI

What it is: A specialised momentum oscillator designed to track the alpha and expansionary phases of the Bitcoin mining sector.

Why it’s useful: It filters equity noise to reveal when miners are fundamentally undervalued (cyan) or overextended (magenta). Pricing miners in BTC helps identify which companies are truly outperforming the asset.

4. Miners Velocity RSI

What it is: A specialised momentum oscillator designed to track the alpha and expansionary phases of the Bitcoin mining sector.

Miner Stocks Velocity RSI

5. Total Crypto ETF Daily Net Flow

What it is: An institutional liquidity tracker aggregating daily inflows and outflows from all major Bitcoin, Ethereum, Solana, and XRP ETFs.

Why it’s useful: It acts as an institutional pulse. Sustained emerald-coloured clusters signal high-conviction buying that often acts as a leading indicator for market expansions or local price floors.

5. Total Crypto ETF Daily Net Flow

What it is: An institutional liquidity tracker aggregating daily inflows and outflows from all major Bitcoin, Ethereum, Solana, and XRP ETFs.

Total Crypto ETF Daily Net Flow

6. Flow Ribbons

What it is: A trend-identification tool using 7 layered EMAs to visualize the flow of capital across multiple time horizons.

Why it’s useful: The ribbon’s width indicates momentum strength. Fanning ribbons confirm a healthy trend, while a "squeeze" or "twist" provides a critical early warning for impending volatility and regime changes.

6. Flow Ribbons

What it is: A trend-identification tool using 7 layered EMAs to visualize the flow of capital across multiple time horizons.

Bitcoin Flow Ribbons

7. Price Zone Dynamics

What it is: An algorithmic heatmap that identifies latent support and resistance zones based on historical retests and structural significance.

Why it’s useful: It filters market noise to reveal where institutional liquidity actually sits. High-opacity zones highlight hardened price levels, helping you navigate range boundaries and high-probability reversal points with precision.

7. Price Zone Dynamics

What it is: An algorithmic heatmap that identifies latent support and resistance zones based on historical retests and structural significance.

Bitcoin Price Zone Dynamics

As always, thank you for your continued support and for being part of this community. I’m excited to see how you integrate these new tools into your workflow to sharpen your edge in this market.

Cheers,

Tom, On-Chain Mind

‹ The Bitcoin Ω-Score Is Back!

DISCLAIMER

The content shared by On-Chain Mind is strictly for informational, educational, and entertainment purposes only. Nothing presented should be interpreted as financial, investment, legal, or trading advice of any kind. The cryptocurrency market is highly volatile and unpredictable. All opinions expressed are those of the author and do not constitute a recommendation to buy, sell, or hold any asset.

Past performance is not indicative of future results. You alone are responsible for your investment decisions. Always do your own research and never invest more than you can afford to lose.