Exploring Five On-Chain Indicators to Understand the Bitcoin Market Cycle
Briefly

The Terminal Price metric, which includes Coin Days Destroyed and Bitcoin's supply, has surpassed $185,000 and may rise toward $200,000 as the cycle progresses.
The Puell Multiple, now above 1, indicates a return to profitability for miners, often signifying later stages of a bull cycle and potential exponential price rallies.
The MVRV Z-Score currently at around 3.00 suggests Bitcoin is not in the overheated zone yet, indicating potential for further growth despite previous diminishing peaks.
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