BITCOIN POWER LAW OSCILLATOR
Where is Bitcoin in its long-term range?
Put today's price on one dial that runs from the floor of Bitcoin's long-term range to the ceiling.
Right now: Near the bottom of the range · In this zone for 1 day, since 12 Nov 2026, down from below the middle.
- Near the bottom of the range−1 to −0.5
- Below the middle−0.5 to 0
- Above the middle0 to +0.5
- Near the top of the range+0.5 to +1
Washed outStretched
The zones describe the model's range, not limits on price.
Bitcoin's place in its long-term range
The dial runs from the floor of Bitcoin's long-term range (−1) to the ceiling (+1), with the trend line itself at the middle. Above the middle is the stretched side; below it, the washed-out side.
Inspect and compare dates
Compare the dial on two dates.
| Measure | Change | ||
|---|---|---|---|
| Position in the range | −0.387 | −0.515 | −0.13 |
Right now
Bitcoin is down near the floor of its long-term range, the washed-out side, where past cycles have found their footing.
At the 12 Nov 2026 close the dial read −0.515, 24% of the way up the range. Price closed at $71,374.
What changed
The dial has slid from −0.387 to −0.515 over the past 30 days, since 13 Oct 2026, down the range toward the floor.
That moves it from 31% of the way up the range to 24%. The middle rises every day, so a price that holds still slides down the dial.
How far up the range
About 24% of the way up its long-term range. The floor of the range is 0% and the ceiling is 100%.
This is where price sits inside the model's range today, not a ranking against its own past readings.
What history shows
The dial has closed below −0.5 on 817 of the 5,963 days since July 2010, about 14% of them. The last three stretches here lasted less than a month, 1 month and 1 month.
This dial reads in years, not weeks. The floor is the edge of the model's range, not a promised bottom: price has closed under it before.
What to watch from here
- The dial stands at −0.515, 24% of the way up the range, below the trend line in the middle.
- If it climbs toward the top of the range, it moves into the stretched zone that has marked past peaks.
- If it sinks toward the bottom, it enters the cheap zone where past cycles have bottomed out.
How to read it
The dial squeezes the model's whole range into one number, so a reading from 2013 and one from today mean the same thing.
It says where price sits against this model. It does not say when price moves back toward the middle, or whether it will.
Understanding
Power Law Oscillator
Where it stands today
Bitcoin sits 24% of the way up its long-term range, near the bottom of the range as of .
What is the dial measuring?
Bitcoin Power Law fits one rising curve through every daily price since July 2010, with a range around it. This dial squeezes that range into a single number: the lower edge is −1, the upper edge is +1, and the curve itself is 0.
Why squeeze it into one number?
Bitcoin traded for cents early on and for tens of thousands of dollars later, so the dollar gap between the edges grows every year. The dial removes the dollars. A reading of −0.515 means the same thing in 2013 and today: price sits 24% of the way up the range.
What do the four zones mean?
Below the middle is the cheap side of the model's range and above it the stretched side. The two outer zones are the ends: the dial has closed past −0.5 or past +0.5 on 1,835 of the 5,963 days since July 2010, about 31% of them. They describe the model's range, not a floor or a ceiling for price.
Can the dial move without price moving?
Yes. The whole curve is refitted every day from every price so far, and it rises as time passes. A price that holds still slides down the dial, because the range keeps climbing under it.
How is this different from the Power Law page?
The Power Law page shows the dollar values: the middle line, the lower and upper edges, and how far price sits from the middle in percent. This page takes the same three lines and turns them into one dial, which is easier to compare across years. Open Bitcoin Power Law.
The numbers
behind the chart
What does the current reading show?
Position in the range: the latest reading is −0.515, on . The highest reading since is 1.00 on ; the lowest is −1.00 on .
Daily readings since 17 Jul 2010 let you compare today with earlier months. Highest and lowest cover every reading since then; month-end values use the last reading on or before that date. The latest reading is −0.515, 24% of the way up the range.
What are the latest, highest and lowest readings?
| Measure | Latest | Highest | Lowest |
|---|---|---|---|
| Position in the range | −0.515 | 1.00 | −1.00 |
How do the readings compare with earlier dates?
| Reference date | Position in the range |
|---|---|
| 1 month ago | −0.398 |
| 3 months ago | −0.543 |
| 6 months ago | −0.312 |
| 1 year ago | −0.026 |
| 2 years ago | 0.118 |
What was the reading at each month’s end?
| Reading date | Position in the range |
|---|---|
| −0.449 | |
| −0.374 | |
| −0.4 | |
| −0.542 | |
| −0.573 | |
| −0.389 | |
| −0.343 | |
| −0.404 | |
| −0.398 | |
| −0.263 | |
| −0.166 | |
| −0.123 | |
| 0.036 | |
| 0.086 | |
| 0.068 | |
| 0.137 | |
| 0.102 | |
| 0.105 | |
| 0.05 | |
| −0.024 | |
| 0.013 | |
| 0.172 | |
| 0.128 | |
| 0.172 |
Source: Maketo's daily record of Bitcoin's price and its Power Law range. Reading for .