On-chain-momentum

Here we have weighted each individual component evenly, and applied a simple condition to flag when 4-of-8 conditions are met in blue. This has historically identified periods when the Bitcoin market is in a sustainable uptrend. We can also flag when all eight conditions are met in purple, indicating periods with extremely strong positive momentum across all categories.

• A positive momentum is realize when at Least 4-of-8 on-chain momentum conditions met.
  

• Strong Momentum (All 8-of-8 Conditions Met)
  

This suggests the market is experiencing overall negative momentum, and is typically experienced throughout bear markets, including the initial inflection points.

• Negative Momentum (Fewer than 3/8 Conditions)