Do 4 Different Cyclical On-Chain Metrics Signal the End of Bitcoin’s Bull Market? “All of these metrics suggest that Bitcoin is experiencing significant turbulence in the short to mid-term. However, none of them indicate that Bitcoin has reached an overheated or cycle-top level. This resembles the carry trade crisis of August 5, 2024, which also drove Bitcoin lower due to macroeconomic conditions.” – By @burak_kesmeci