📊The $BTC On-chain Confidence index indicates that profit-taking activity is heating up, but it is still quite far from the hot peaks seen in previous cycles.

This index is a combination of several key indicators such as: RHODL, Puell Multiple, MVRV, CVDD, R/NUPL, all of which are standardized to create a clear signal.

The current level is equivalent to the early stages of 2024 and early 2025, but it has not yet reached the overly hot zones like the peaks in 2017 or 2021.

👉 If this index continues to rise towards the old peaks, it is very likely that the market is entering the final stage of the bullish cycle, and we only have a few months left before the bull run ends.

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