About Market Cap to Thermocap Ratio (MCTC)
Compare Bitcoin's market valuation to the total cumulative security budget invested by miners. MCTC helps identify market cycles, with high ratios indicating potential overvaluation and low ratios suggesting accumulation opportunities.
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![Cumulative LTH Realized Profit [Bull Market] - Track cumulative realized profit taken by Long-Term Holders (LTH) across different Bitcoin bull market cycles. Each colored area represents a specific cycle, showing when LTHs distributed by selling coins held for 155+ days. The LTH Realized Cap (%) line shows the proportion of total realized cap held by LTHs. Peaks often coincide with market tops.](/charts/CumulativeLTHProfit.png)



