Glossary
Bitcoin vocabulary.
Plain-language definitions for every metric Galaxy Mind uses · mNAV, MVRV, Puell, Mayer, Buying Gauge tier, accretion, and more. Standalone definitions, written to be quoted. Every entry links back to where the metric drives a live decision on the site.
Treasury company metrics
How to read public Bitcoin treasury companies (MSTR, XXI, MPJPY, ASST).
- Effective BTC price#effective-btc-price
- The actual price you pay per bitcoin when buying a treasury company's stock. Computed as spot BTC price × mNAV. Below spot means you're getting a discount; above spot means you're paying a premium for the wrapper (operating leverage, regulated equity access, future accretion).
- BTC-per-share accretion#accretion
- The mechanism by which a treasury company can grow its bitcoin holdings faster than it dilutes shareholders. When a company issues equity at mNAV > 1.0× and uses the proceeds to buy BTC, BTC-per-share goes UP because each new dollar raised buys more BTC than the dilution dilutes. Saylor's Strategy made this the central thesis for MSTR.
On-chain + cycle signals
The publicly observable Bitcoin metrics used in the Buying Gauge.
- MVRV (Market Value to Realized Value)#mvrv
- Bitcoin's market capitalization divided by the aggregate cost basis of all coins (their realized value). MVRV below 1.0 means the average holder is underwater · historically a strong accumulation signal. Every major Bitcoin cycle bottom (Dec 2018, Mar 2020, Nov 2022) printed MVRV below 1.0.
- Puell Multiple#puell-multiple
- Daily Bitcoin issuance value (in USD) divided by its 365-day moving average. Below 0.5 = miner capitulation · every major cycle bottom landed in this zone. Above 4.0 = miners are over-earning, top territory.
- Mayer Multiple#mayer-multiple
- Bitcoin's spot price divided by its 200-day moving average. Below 1.0 = price below the long-run trend (historically a green light for accumulators). Above 2.4 = top territory.
- Perpetual funding rate#funding-rate
- The fee paid between long and short holders of a perpetual futures contract, settled every 8 hours. Negative funding = shorts paying longs (bearish positioning, often a contrarian buy signal). Heavily positive funding = longs paying shorts (euphoric leverage, often a sell signal).
- Crypto Fear & Greed Index#fear-greed
- A 0-100 composite of crypto market sentiment combining volatility, momentum, social media activity, dominance, and search trends. Below 25 = Extreme Fear (historically excellent accumulation zones). Above 75 = Extreme Greed (historically caution territory).
Buying Gauge vocabulary
How the Galaxy Mind Buying Gauge translates 10 weighted signals into a single 0-100 verdict.
- Buying Gauge tier#buying-gauge-tier
- The five-tier mapping from the Buying Gauge's 0-100 score to a plain-language verdict. HOLD (0-20) = euphoric crowd, patience. STACK SMALL (21-40) = below-average entry, no edge. STACK (41-60) = mixed signals, DCA on schedule. STACK NOW (61-80) = conditions favorable, stack with conviction. STACK HUGE (81-100) = blood-in-the-streets territory.
- Buying Gauge score#buying-gauge-score
- A 0-100 verdict computed from 10 weighted signals: MVRV (16%), Mayer Multiple (14%), Puell Multiple (13%), Funding Rate (12%), Fear & Greed (10%), Price vs 30-day MA (9%), 30-day Realized Vol (7%), Hour-of-Day (7%), Day-of-Week (6%), MSTR mNAV (6%). When a signal is null (upstream outage), its weight is redistributed proportionally across the survivors.
- Degraded snapshot#degraded-snapshot
- A market snapshot in which 3 or more of the 6 weight-bearing market signals are null. Cron jobs that send email alerts and tweets refuse to fire on a degraded snapshot · this prevents Galaxy Mind from broadcasting decisions based on the all-null fallback (score=50, tier=WARM) during multi-day upstream outages.
Allocation engine vocabulary
Terms used by the /fit decision engine and its sleeve recommendations.
- Sleeve (allocation)#sleeve
- A single position in a recommended portfolio. Each sleeve has a role (anchor / accretion / hedge / yield / leverage / spot), an asset, and a weight that sums with the others to 100%.
- Volatility tolerance#volatility-tolerance
- User-selected appetite for portfolio volatility, on a 6-tier scale from Minimal (sleep at night, STRC + SATA only) to Ludicrous (heavy 2× leveraged sleeves). Higher tolerance unlocks more aggressive sleeves; the engine guarantees expected return is non-decreasing as tolerance rises (monotonicity invariant).