CryptoQuant: BCMI index breaks through the 0.50 neutral line, crypto market enters "warming period"

On July 8th, a CryptoQuant analyst published an article stating that the BCMI index recently broke through the 0.50 neutral line, indicating that the Bitcoin market is in a "mid-cycle, heating up" phase. The Fear and Greed Index is in the greedy range of 70+, while the MVRV (~2.0) and NUPL (~0.4) indicators suggest that market valuations have only reached half of the euphoric level. Historical patterns show that when the BCMI index enters the 0.60-0.75 range, there is usually a 20-35% correction before the cycle peak. Although continuous ETF inflows and self-custody behavior are moderating on-chain volatility, crowded conditions in the derivatives market may still trigger a sudden correction. The analyst suggests: spot investors should gradually build positions and set trailing stops; holders should retain core positions and start hedging or reducing leverage when the BCMI reaches above 0.60; and lock in profits and reduce risk when the index exceeds 0.75. [Deep Tide TechFlow]