The derivation path indicates the actual positions of the displayed master fingerprint (representing "m") and the extended public key.
So the watch-only descriptor's derivation path is m/84'/0'/0'(xpub)/0/*(address_index) defining the path to your receiving addresses.
--edit-fixed-the-labeled-derivation-path--
An interesting detail is about the behavior of bitcoin core when importing an extended private key with the descriptor configured on the root node (m). When doing this and then exporting the descriptors (gethdkeys command for example) Bitcoin Core doesn't derive the fingerprint from the descriptor.
Using for example the extended private key of an electrum wallet (with descriptors):
"wpkh(xprv9twuT81YpbNNiyxZzuWvppZvDdyHKrALPWbDWWeitj1KwkpmQo9xBKQYhrRoaD54FN2WESq3DREXmpuYhvM1uJNRTGZBfhZzwN6A3BCfjth/0/*)#nf7hkv8v"
"wpkh(xprv9twuT81YpbNNiyxZzuWvppZvDdyHKrALPWbDWWeitj1KwkpmQo9xBKQYhrRoaD54FN2WESq3DREXmpuYhvM1uJNRTGZBfhZzwN6A3BCfjth/1/*)#zamkteh5"
Importing into Bitcoin Core:
importdescriptors '[{"desc":"wpkh(xprv9twuT81YpbNNiyxZzuWvppZvDdyHKrALPWbDWWeitj1KwkpmQo9xBKQYhrRoaD54FN2WESq3DREXmpuYhvM1uJNRTGZBfhZzwN6A3BCfjth/0/*)#nf7hkv8v","timestamp":"now","active":false,"range": [0, 1000], "internal":false},{"desc":"wpkh(xprv9twuT81YpbNNiyxZzuWvppZvDdyHKrALPWbDWWeitj1KwkpmQo9xBKQYhrRoaD54FN2WESq3DREXmpuYhvM1uJNRTGZBfhZzwN6A3BCfjth/1/*)#zamkteh5","timestamp":"now","active":false,"range": [0, 1000], "internal":true}]'When listing the public keys available in the keystore using the
gethdkeys command, Bitcoin Core returns the following:
[
{
"xpub": "xpub67wFrdYSexvfwU336w3wBxWemfomjJtBkjWpJu4LT4YJpZ9uxLUCj7j2Z6i9i19mLD4gzCXrSVXuWhDSpwBcPUpEaf9gPpQWDTBTjCy439u",
"has_private": true,
"descriptors": [
{
"desc": "wpkh(xpub67wFrdYSexvfwU336w3wBxWemfomjJtBkjWpJu4LT4YJpZ9uxLUCj7j2Z6i9i19mLD4gzCXrSVXuWhDSpwBcPUpEaf9gPpQWDTBTjCy439u/0/*)#vr2akcza",
"active": false
},
{
"desc": "wpkh(xpub67wFrdYSexvfwU336w3wBxWemfomjJtBkjWpJu4LT4YJpZ9uxLUCj7j2Z6i9i19mLD4gzCXrSVXuWhDSpwBcPUpEaf9gPpQWDTBTjCy439u/1/*)#ah0utdj9",
"active": false
}
]
}
]
Note that there is no fingerprint listed in this case.
Now, when comparing this to an extended private key set to the derivation path m/84'/0'/0', Bitcoin Core displays the fingerprint correctly. Here is an example:
{
"desc": "wpkh([1a8a5ac4/84h/0h/0h]xpub6CbMhMYjFEv2KY2VV3S2TRUAsV1Gv96z88pzafh66ZfScvsN9NQ59Uubycj98i6pruPGH8MsrRfJ6br4h17GXeJ5fhN9bjTe9XdKCpZks9H/0/*)#pny32srk",
"active": false
},
{
"desc": "wpkh([1a8a5ac4/84h/0h/0h]xpub6CbMhMYjFEv2KY2VV3S2TRUAsV1Gv96z88pzafh66ZfScvsN9NQ59Uubycj98i6pruPGH8MsrRfJ6br4h17GXeJ5fhN9bjTe9XdKCpZks9H/1/*)#s8psh9nw",
"active": false
}
