Looking at the chart below, I put all major on-chain charts on top of each other to get a better view of what’s going on. Since the all-time high last October, MVRV Ratio, MVRV Z-Score, NUPL, and NVT Signal have been declining and gradually going into a buy signal.
However, RHODL Ratio is showing a continuous downtrend which can be interpreted as a start of a bear market. But this remains a theory for now. Given the fact that most are not convinced that we have seen this cycle’s top, hopefully, this is not the case.
What are your thoughts on these charts? Comment down below.
For more charts relevant to market top readings, stay tuned. 😉
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE.
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