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What it measures

The Bull/Bear Market Cycle Indicator is a momentum metric built on top of the P&L Index. It measures the difference between the P&L Index and its 365-day moving average, isolating the direction and strength of the current market cycle rather than the absolute valuation level.

How to interpret it

Because it tracks the P&L Index relative to its own long-term trend, the indicator reads as a cycle-phase signal:
  • Above 0 — the P&L Index is above its 365-day average, indicating bullish momentum and a bull cycle.
  • Below 0 — the P&L Index is below its 365-day average, indicating bearish momentum and a bear cycle.
Crosses of the zero line mark transitions between cycle phases, making the indicator useful for confirming regime shifts.

Key thresholds

  • Bull cycle: indicator above 0.
  • Bear cycle: indicator below 0 and below its 365-day moving average.

Run this metric in CryptoQuant Analytics

Authorizations

Authorization
string
header
default:Bearer <YOUR_API_KEY>
required

For each API request, include the Authorization HTTP header with Bearer <YOUR_API_KEY>.

Query Parameters

window
string
default:day

Time interval for aggregation.

from
string

Starting time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.

to
string

Ending time, formatted as YYYYMMDDTHHMMSS (UTC). If window=day, YYYYMMDD is also accepted.

limit
integer
default:100

Maximum number of data rows to return. Ranges from 1 to 10,000.

Required range: 1 <= x <= 10000

Response

200 - application/json

market regime

status
object
required

Returned with every response; indicates whether the request was successful.

Example:
result
object
required