The news content highlights Bitcoin's 365-day running ROI as an important indicator of market cycles. The current reading suggests that Bitcoin is in a mid-cycle phase and could be preparing for a larger move. The ROI measures the return on investment if someone had bought Bitcoin exactly one year ago, with values above 1 indicating bullish sentiment and values below 1 reflecting underperformance. Past data shows that peaks in the ROI often coincide with market tops, while deep dips present buying opportunities. Traders should monitor Bitcoin's ROI and historical resistance levels to predict the next move, as it could continue climbing towards a new all-time high or face a consolidation phase.



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