A small, opinionated set of charts where each metric earns its place by being a credible signal for the major tops and bottoms of the ~4-year market cycle.
Bitcoin cycle risk: log price against a 0–1 composite of six on-chain metrics. Toggle any line in the legend to see how the chart adapts.
Bitcoin cycle risk read from mining power: log price against a 0–1 risk score of market cap divided by network hash rate, standardized against its own 2-year baseline. Price running far ahead of the machines securing the network reads hot; hash rate still building through a drawdown reads cold.
