Miner USD outflow vs 365d norm — Miner USD outflow ÷ its 365d average. >2 = miners selling far above baseline; <0…1 = holding
Miners' Position Index follows the movement or balance of Bitcoin at labeled market participants: Miner USD outflow vs 365d norm. It helps put exchange, whale, miner and custody activity into context.
Above 2, miners are selling far above their yearly norm (bearish pressure). Below 0–1, miners are holding — often near cycle bottoms.
Entity labels are probabilistic and wallets are often reorganized. A flow is evidence of movement, not proof of an investor's intent or a future price move.