Out of six macro cycle top indicators available on our platform that worked every cycle since 2011, none show that the current cycle top is in.

Five of them show that the top is nowhere near and only one shows that the cycle might be topping out soon, however it's not there yet.

MVRV Z-Index: current value 2.72, usually tops out at 7

2 Year MA Multiplier: marks the top at $253,000

Puell Multiple: current value 1.24, usually tops out at 3.5

200WMA Heatmap: current value 2.22%, usually tops out above 10%

Pi Cycle Top: Far from topping out

NUPL: current value 0.59, usually tops out at 0.75

What we're living through now is either just another heavy dip—a capitulation before the explosive growth—or the end of most cycle top indicators as we know them.