🔹 The Essence of the Energy Value Model

Energy Value is a fundamental metric that estimates Bitcoin’s “fair value” based on the total energy cost of mining it:

V = Hashrate × Energy Efficiency × Fiat Factor / Supply Growth Rate

In other words: the greater the total energy expenditure to issue new bitcoin, the higher its intrinsic base value.

Current Status

BTC Price ≈ $109,000

Energy Value ≈ $129K–133K

The oscillator is near zero: BTC is almost fully “backed” by its fundamental energy-based value.

This is a healthy growth phase - hashrate and energy consumption are rising in sync with price, indicating trend sustainability.

🔹 What This Means for the Market

No Bubble: BTC is not overheated, unlike in 2021 and early 2022.

Energy support signals trend continuation - as long as hashrate continues to rise.

If the oscillator moves into the red zone again (+100%), it may indicate local overheating and a potential correction.

Conclusion

The Energy Value metric suggests that the current BTC price is grounded in miners’ real energy investments and is not purely speculative.

As long as BTC trades near or below its energy-based valuation, it confirms the strength of the trend and provides a fundamentally sound basis for further upside.