$BTC | Pi Cycle Top reads 0.50 today, 8 November 2026. On the desk I never size off one ratio. SatoshiMacro's tracker has the 111-day average at A$107,893 against the 350-day average times two at A$217,415, so the fast line sits 1 percent under the plain 350-day average. Far from signal. Honest limitation: the framework is curve-fitted to three historical tops, 2013, 2017 and April 2021, and missed the higher November 2021 peak. That is why SMM normalises Pi Cycle to a percentile rank inside Tier 1's nine valuation signals, like Mayer and MVRV. My read is the ratio needs real distance to climb before I would treat a 2:1 ASIC-capped crypto CFD position as cycle-top risk.
https://satoshimacro.com/tools/crypto/cycle-indicators/bitcoin-pi-cycle-top-indicator/?utm_source=binance_square&utm_medium=social&utm_campaign=autopilot_short-1
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