Markets evolve rapidly, and so do the signals indicating our position in the cycle. Last month, the data clearly placed us in Stage 2 (Mid Bull) with early signs of acceleration. Today, we remain in Mid Bull but are edging closer to the transition from Stage 2 to Stage 3. We didn't accelerate directly into Late Bull; instead, we experienced a healthy reset, particularly evident in RSI and CBBI. This reset allows the uptrend to continue without overheating, keeping the market extendable rather than exhausted. (See the infographic attached for a summary of Progression: Last Month vs Now.) Currently, these key indicators are on our watchlist, hovering just below late-stage thresholds: • Bitcoin MVRV Ratio (72% to 80%+): nearing overvaluation territory. • Bitcoin Reserve Risk (48% to 55%): indicating a slight weakening in long-term conviction. • Short-Term Holder Supply (74% to 78%): speculative capital continues to flow in. • Bitcoin Mayer Multiple (51% to 67%): gradually approaching historical peak zones. If these indicators exceed 80–85%, Stage 3 will be officially confirmed. Even with the progression, several macro indicators remain well below danger zones: - Ahr999 Index (26% to 24%): Miners are still comfortable. - ETF Outflows (0 days to still low): Institutions remain net buyers. - Bitcoin Bubble Index (<20%): Nowhere near mania. - RHODL Ratio (~25%): Still deep in the “safe zone.” Strategy From Here: - Ride the trend, as the uptrend remains intact. - Buy dips with precision; the RSI reset provides entry windows. - Gradually rotate into BTC/ETH as metrics cross above 80%. - Trim overextended alts, especially in high-MVRV sectors like memes. Bottom Line: We’re still in Stage 2 (Mid Bull), but we are edging closer to the ignition point. Instead of overheating, the market has taken a breather, which extends the cycle rather than concluding it. If the current momentum persists, Stage 3 (Late Bull) is likely to activate within 1–2 months. This is the prime time to compound aggressively, but it's also the moment when exit plans should start becoming intentional, not emotional.