Do On-Chain Indicators Predict Bitcoin Price Tops and Bottoms?

Analyzing seven key on-chain indicators can give us major hints as to when the bitcoin price is at the top or bottom of the current market cycle.

We’ve discussed the importance and trends of major on-chain cyclical indicators such as the realised HODL ratio, market-value-to-realized-value z-score, reserve risk, dormancy flow, 90-days coin days destroyed, and the ratio between short-term and long-term holders in previous Daily Dives and analyses. The Mayer Multiple is included in today’s analysis, which includes all of these indicators in aggregate.

These measurements aren’t ideal at predicting the market in the short term, but they can help us identify when the market is approaching a secular or cyclical turning point.

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