What is this indicator?
Compares miners' daily revenue to its one-year average to gauge probable selling pressure from miners. Extreme readings (very high or very low) have historically coincided with important price turning points.
How to read the chart
Sharp changes or a move outside this metric's normal range often coincide with important price turning points, and it's used as a secondary confirmation alongside technical analysis.
Practical tip
On-chain data is best used to complement technical analysis, not replace it; interpreting a single metric in isolation can be misleading.