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Six Bitcoin cycle top indicators are over 80% on their way to a sell signal.<\/p>\n
As analysts and traders continue to debate whether or not this cycle\u2019s top is in, a cluster of long-term market signals tracked by blockchain analytics platform Coinglass is steadily pushing toward levels that in past cycles have marked overheated conditions.<\/p>\n
As of today, Sept. 29, 18 out of 30 indicators<\/a> tracked on Coinglass\u2019s Bull Market Peak Signals dashboard have made more than 50% progress toward their sell trigger, while six are already over 80% of the way there.<\/p>\n None of the signals have hit 100%, which would indicate a sell signal, per Coinglass. However, with over half already past the halfway point, they could hit critical levels all at once, potentially surprising the crypto community and triggering a new wave of FUD.<\/p>\n As Glassnode analysts noted in a Thursday research report<\/a>, Bitcoin (BTC<\/a>) is showing \u201csigns of exhaustion,\u201d following a brief rally<\/a> after the September Federal Reserve meeting, adding that the short-term holder cost basis at $111,000 was the \u201ckey level to hold or risk deeper cooling.\u201d<\/p>\n The analysts added that unless demand from institutions and holders aligns again, the risk of deeper cooling \u201cremains high.\u201d According to SoSoValue, last week\u2019s spot Bitcoin ETFs experienced over $900 million in net outflows, marking the third-largest weekly outflow so far this year.<\/p>\n The dashboard brings together price-based metrics like the Pi Cycle Top and Golden Ratio Multiplier, on-chain profitability measures such as MVRV and Bitcoin net unrealized profit\/loss (NUPL), and supply dynamics including long-term holder balances and Bitcoin dominance.<\/p>\n For example, Bitcoin dominance has reached nearly 89% of its cycle top threshold, while long-term holder supply is 87% of the way toward its trigger. Meanwhile, the widely followed Crypto Bitcoin Bull Run Index sits at 75 out of a 90 top signal, indicating that it\u2019s more than 83% complete.<\/p>\n The warning signs emerged just one month after Bitcoin hit $124,128<\/a> in August, a historic all-time high, raising debate over whether the market has already topped<\/a> out this cycle.<\/p>\nWill BTC Break New Highs This Year?<\/h2>\n