A recent analysis focused on the Bitcoin Composite Market Indicator (BCMI), which combines several key indicators to assess the current state of the cryptocurrency market.
Bitcoin Composite Market Indicator (BCMI)
The BCMI is a proprietary metric that blends multiple key on-chain indicators. Its composition includes:
- 30% Market Value to Realized Value (MVRV) - 25% Net Unrealized Profit/Loss (NUPL) - 25% Spent Output Profit Ratio (SOPR) - 20% Fear & Greed Index.
Current BCMI Values
Currently, the 7-day simple moving average (SMA) of the BCMI is rising sharply and hovers around 0.6, which is interpreted as an early upside signal. Meanwhile, the 90-day SMA remains relatively flat near 0.45, suggesting that the market has not yet entered an overheated or euphoric phase.
Forecasts for Bitcoin Accumulation
With on-chain sentiment improving and profit-taking slowing down, the report concludes that early signals of recovery are flashing—even as broader market participants remain on the sidelines. According to some analysts, this sets the stage for what could be the initial phase of a broader accumulation trend.
The BCMI analysis brings hope for potential improvement in the Bitcoin market. With current indicators and rising sentiment, there is a possibility of witnessing the initial accumulation phase in the future.
