The Pi Cycle Top indicator is compressing again.

For those unfamiliar: this is one of the cleanest macro signals in BTC history. It tracks the 111 DMA crossing above the 350 DMA × 2. When they converge, tops have historically followed within weeks.

Right now? The gap is tightening.

What this means:

• Market geometry is shifting

• Momentum structure is changing

• We're likely entering a new phase of the cycle

This isn't a sell signal yet, but it's a warning shot. These structural shifts don't happen in a vacuum. They precede volatility.

Veteran traders are watching this closely. If you're overexposed or leveraged, now's the time to reassess risk.

History doesn't repeat, but it often rhymes. And this chart is starting to hum the same tune it did in 2021, 2017, and 2013.

Stay sharp.