Bitcoin Metcalfe's Price
Indicators
Bitcoin Metcalfe's Price
Bitcoin price valuation based on Metcalfe’s model followin gthe formula A*Active addresses^ 2. Each band represents a different value of A (3, 2, 1, 0.5, 0.25, 0.1 and 0.04)
GET
Bitcoin Metcalfe's Price
What it measures
Fair value derived from Metcalfe’s Law: market cap ÷ active addresses². Different A-coefficients produce a family of upper/lower valuation bands.How to interpret it
Central Metcalfe Price = network-activity-based fair value. Higher A bands (3x, 2x) = upper valuation limits historically acting as resistance in bull markets. Lower A bands (0.5, 0.25, 0.1, 0.04) = lower support/fair value range. Bands themselves move with network activity levels.Key thresholds
Red band (higher A): price resistance in bull markets, short-term rally targets; A=2x band: key support/resistance (~$91K in Nov 2025); Blue band (lower A): lower fair value support; Price between red and blue bands since Feb 2024 = “fair value range”How to use it
Assess whether price is fundamentally supported by user activity. Price above red band = overvalued vs. network usage. Price bouncing off blue band = fundamental support. Watch bands shift downward when network activity (e.g. OP_RETURN, transactions) declines.Run this metric in CryptoQuant Analytics
Authorizations
For each API request, include the Authorization HTTP header with Bearer {access_token}.
Query Parameters
Time interval for aggregation.
Starting time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.
Ending time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.
Maximum number of data rows to return.