On-chain cycle indicator · Bitcoin

Bitcoin Cycle Position

Snapshot

Bitcoin price

Daily closes since 2011, with the moving averages most often used to judge trend and cycle position. Log scale by default — tap the to see why that matters.

Scale
Cycle score
Bitcoin
Deep valueAccumulationMid-cycleHeatingOverheated

MVRV ratio

Market cap divided by realized cap. Shaded zones mark historically meaningful extremes.

MVRV Below 1.0 — under cost basis Above 3.7 — historically frothy