The BCMI index has broken through 0.50, and the Bitcoin market is heating up. Analysts suggest gradually building a position.

[Bit推] According to an analyst's article, the BCMI index has recently broken through the 0.50 neutral line, indicating that the Bitcoin market is currently in the "mid-cycle, warming up" phase. The Fear and Greed Index is in the greedy range of over 70 points, while the MVRV(~2.0) and NUPL(~0.4) indicators suggest that the market valuation has only reached half of the euphoric level.

Historical patterns show that when the BCMI index enters the 0.60-0.75 range, a 20-35% pullback typically occurs before the peak of the cycle. Although ETF inflows and self-custody behaviors are easing on-chain volatility, the crowded state of the derivatives market may still trigger a sudden pullback.

Analysts suggest: Spot investors should gradually build positions and set trailing stop losses; holders should retain core positions and begin hedging or reducing leverage when BCMI reaches above 0.60; when the index exceeds 0.75, lock in profits and reduce risk.