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© 2026 The Markets Unplugged · Data in. Conviction out. - Published with Ghost & Aspect

Pi Cycle Top Remains Inactive: Why This Is Not Bitcoin’s Peak

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    Bitcoin on-chain analysis, market cycles, and holder behaviour at The Markets Unplugged. Creator of Alt Sector Radar and Bitcoin Barometer. Maps on-chain signals to cycle phases.
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  • April 14, 2025
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Pi Cycle Top Remains Inactive: Why This Is Not Bitcoin’s Peak
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Bitcoin is back above $84,500 and the timeline is once again split. Some are calling for a top. Others are warning of 2021 déjà vu. And a vocal minority continues to hedge as if it’s 2018.

But amid the noise, one of Bitcoin’s most historically reliable cycle-top indicators — the Pi Cycle Top — hasn’t moved. It hasn’t crossed. It hasn’t even come close.

If this was truly the top, this indicator would not be silent.


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Bitcoin on-chain analysis, market cycles, and holder behaviour at The Markets Unplugged. Creator of Alt Sector Radar and Bitcoin Barometer. Maps on-chain signals to cycle phases.
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The Markets Unplugged · Data in. Conviction out.
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