Bitcoin: Bull-Bear Market Cycle Indicator

Bull-Bear Market Cycle Indicator is a momentum measure built from the P&L Index — the distance between the index and its own 365-day average.

Above zero describes a bull cycle. Below zero, and below its 365-day average, describes a bear cycle. Because it measures distance rather than level, it turns earlier than the index itself.

The intermediate zones matter as much as the sign. Readings that are still positive but compressing toward zero have flagged late-cycle conditions well before price confirmed them.

API — /v2/community/bitcoin-bull-bear-indicator returns the indicator and its regime label. The moving averages shown here are derived from it.