A Bitcoin cycle risk metric. One number to follow through the everyday crypto noise.

You don't need more opinions. You need one number.

Bitcoin moves in cycles.

Years of despair, then euphoria, then despair again. Nobody knows whether that continues, but it is measurable while it lasts.

Too much noise

A hundred YouTubers, a thousand charts, zero clear answers. You just want to know: where inside the cycle are we, right now?

One number to follow.

We developed a complex cycle risk metric. Published daily. Timestamped forever. Verifiable by anyone.

It found every bottom. And it marked where the selling paid.

Bitcoin price since 2014 with Gresham Index accumulation and distribution zones marked, showing actual cycle bottoms and tops

Green = heavy accumulation zone;  ▲ actual bottoms
Red = distribution zones;  ▼ actual tops,  ▽ 2025 top

3 of 3

cycle bottoms happened inside the green zone

37% → 71% → 92%

average exit price versus each cycle top: 2017, 2021, 2025

What's inside the number

Seven market indicators, three independent views of the cycle — combined into one score. We tested every famous indicator alone. All failed at some level. The combination didn't.

Price trends

How stretched is the price versus its own long-term history?

Blockchain data

Are Bitcoin holders sitting on huge profits (danger) or losses (opportunity)?

Momentum

Is the market overheating or cooling down?

Mayer Multiple · 200-week extension · log-regression deviation · MVRV-Z · NUPL · Puell Multiple · monthly RSI

The formula is public. The rules never change quietly.See full methodology →

Two strategies how we use Gresham Index.

The index says where the market is. It never says what to do, but we developed two powerful strategies.

Smart DCA strategy

Buy-only.

Deposits scale with the zone: 3× the base amount in Heavy Accumulation, less in other accumulation zones, nothing above Neutral. It never sells. There is nothing to decide at the top, and no gains are realised along the way. It holds through the whole drawdown.

Full Cycle strategy

Buys and trims.

The same deposits, plus small weekly sell tranches in the distribution zones. The cash raised waits through Neutral and goes back into Bitcoin during the deep zones — so the cycle funds the next one. More moving parts, and selling realises gains.

Neither strategy predicts a top, and neither ever fully exits. They trim seasons; they do not call peaks.

We didn't just backtest the strategies.
We tried to break them.

Every possible start day since 2014, judged at every quarter since — 37,072 scenarios against the most honest benchmark there is: buying on a fixed schedule, no matter what (Plain DCA).

4,161

start days tested — one for every day since 2014

100%

of them: the Full Cycle strategy finished ahead of plain DCA

97.3%

still ahead when judged at every quarter along the way, not just at the end

1.65×

the median return on investment deposited, versus plain DCA

Historical backtests of the frozen v1.0.1 rules. The past never guarantees the future. Full methodology, including the scenarios where it loses, is in the research note.

Built for two kinds of people

The smart saver

You already DCA into Bitcoin every week or month. You just want to know if the market is in fear or euphoria — without becoming a chart addict.

The retired altcoin trader

You're done chasing 100× coins that went to zero. You want one asset, one number, and your evenings back.

Questions people ask

Why this exists?

Built by someone who wanted the number to exist and couldn't find one he trusted.

What does the number actually mean?

It's a percentile rank against Bitcoin's own history. A reading of 0.15 means only about 15% of past days looked cheaper on these measurements than today. It isn't a price target or a forecast.

Why the name?

Gresham's Law says bad money drives out good — people spend the weaker currency and hold the stronger one. The index is built for the holding half of that instinct.

Does it call the top?

No, and we don't claim it does. It describes conditions in zones, not moments. The exact 2025 cycle top printed 0.73 — outside the distribution zone — and that reading stays in the public record.

Why does the site sometimes show a reading from two days ago?

The index always describes the previous day's settled close — a day's closing data only exists once the day is over, and we'd rather publish a confirmed number late than an unconfirmed one early. The publication time itself varies, usually late morning UTC, occasionally later, because the job runs on free scheduling infrastructure that isn't guaranteed to fire on time. Every reading carries the date of the data it describes, so you always know exactly what you're looking at, and the site flags it if the data falls more than 48 hours behind. We're working on making the publication time more consistent.

In practice the delay changes little. The index moves by about 0.003 on a typical day, and even on the twenty largest single-day price moves since 2014 — a median of 17% — it shifted by less than 0.01. It is built to describe seasons, not sessions. If it moved enough for a day to matter, it would be the wrong kind of instrument.

Why doesn't the index move much when the price does?

Because it isn't built to. The published reading is a seven-day average, so any single day carries about a seventh of the weight, and the heaviest input — monthly RSI — is measured on monthly closes and barely registers a day at all.

The effect is stronger than most people expect. From a reading of 0.32, a one-day price move of any size, however large, tops out near 0.39. Reaching the distribution zone doesn't require a dramatic day; it requires elevated conditions that persist for weeks.

That's deliberate. A number that jumped with the price would just be the price again, and you'd have to watch it. It's also why the exact top day of a cycle rarely produces the highest reading.

Is this financial advice?

No. It's an informational and educational tool. The index describes market conditions; the strategies are published rulesets, not recommendations. All of information presented are historical sumulation; past results do not indicate future performance. Crypto-assets are highly volatile and this is not reccomendation on where and how to allocate your investment funds. 

What if Bitcoin stops moving in cycles?

Then this does worse than simply holding — in a tested scenario where Bitcoin rises fiftyfold with no serious drawdown, the strategy trails a plain schedule by 54%. The reason it isn't worse: the trims are small and weekly, 1.5% or 4% of the stack, so the position is never sold off on the way up and the core keeps riding. That's the honest trade — protection against cycle mistiming, paid for with some upside if the cycles stop.

Who built this?

It is An independent project from Slovakia. It was built with AI assistance, directed and edited by a human — we'd rather say that plainly than let anyone discover it later.