Signals
Bitcoin's cycle metrics on one clock: each scored 0–100 against its own history and placed by its level and its four-week move.
Recovery
41Cycle index
Bearish+6 in 4 weeks
Rising 13Flat 0Falling 1
Week of 25 Sept 2026 · $84,589
Not financial advice. This board reads the past; it does not forecast prices. Do your own research (DYOR).
Top 0Bullish 4Bearish 7Bottom 3
Height is the score. Left of centre is rising, right of centre is falling; a cycle turns clockwise.
| By family | Score | Phase |
|---|---|---|
| Valuation4 signals | 54 | Bullish |
| Holders4 signals | 34 | Bearish |
| Profit & loss3 signals | 49 | Bearish |
| Price cycle3 signals | 25 | Bearish |
| Phase changes | Phase |
|---|---|
| 25 Sept 20262-year MA multiplier | BottomBearish |
| 25 Sept 2026200-week MA multiple | BottomBearish |
| 18 Sept 2026Mayer multiple | BearishBullish |
| 11 Sept 2026Mayer multiple | BullishBearish |
| 04 Sept 2026RHODL ratio | BearishBottom |
| 04 Sept 2026SOPR, 30-day | BearishBullish |
| 28 Aug 2026RHODL ratio | BottomBearish |
| 21 Aug 2026MVRV Z-score | BottomBearish |
All signals as a table
| Signal | Score | 4w | Phase | |||
|---|---|---|---|---|---|---|
| Thermocap multipleValuation · ×18.04 | 71 | +1 | +3 | +13 | −16 | Bullish |
| Short-term holder MVRVHolders · ×1.16 | 70 | +4 | +8 | +52 | +36 | Bullish |
| Mayer multipleValuation · ×1.19 | 60 | +6 | +9 | +44 | +21 | Bullish |
| SOPR, 30-dayProfit & loss · 1.005 | 55 | −2 | +12 | +47 | −16 | Bullish |
| Supply in profitProfit & loss · 75.1% | 49 | +5 | +14 | +45 | −16 | Bearish |
| Puell multipleValuation · ×1.05 | 44 | +3 | +6 | +31 | −2 | Bearish |
| MVRV Z-scoreValuation · 1.01 | 43 | +3 | +4 | +25 | −28 | Bearish |
| NUPLProfit & loss · 37% | 43 | +3 | +5 | +26 | −24 | Bearish |
| Long-term holder MVRVHolders · ×1.71 | 36 | +2 | +6 | +18 | −25 | Bearish |
| 2-year MA multiplierPrice cycle · ×0.96 | 26 | +2 | +4 | +13 | −17 | Bearish |
| 200-week MA multiplePrice cycle · ×1.29 | 26 | +2 | +4 | +19 | −33 | Bearish |
| Pi Cycle ratioPrice cycle · ×0.44 | 24 | +1 | +3 | +5 | −20 | Bottom |
| RHODL ratioHolders · 0.111 | 21 | +8 | −4 | +6 | −24 | Bottom |
| Reserve RiskHolders · 4.4×10⁻⁶ | 11 | +2 | +3 | +10 | −22 | Bottom |
How the board is scored
Each metric is read weekly and scored as its percentile among its own readings up to that week: 90 means higher than nine in ten of its weeks so far, and a past week is scored only against the weeks before it. The quarters of the scale are the phases — under 25 bottom, under 50 bearish, under 75 bullish, above that top — and the cycle index is their plain average. On the clock a signal's height is its score and its side is its four-week move, so the board turns clockwise through a cycle. On-chain data from Bitview, an open-source indexer; the price is our own daily history.
Updated 25 Sept 2026