Bitcoin Heat Macro Phase provides a single scalar value that reflects the current temperature of the Bitcoin market:

High values (closer to 50%) mean that most components (overvaluation assessment, profit-taking activity, LTH selling pressure, and ETF inflows) are at upper historical levels - the market may be overheated, close to a distribution phase or correction.

Low values (closer to 30%) indicate coolness: low profit-taking, modest ETF inflows, and minimal selling wave from LTH - a favorable phase for accumulation.

Essentially, the metric serves as a generalized beacon, showing how close the current stage of Bitcoin's macro cycle is to either the distribution or accumulation phase.

The current value = 44% is the middle ground. There is currently no pronounced dominance of either bulls or bears. The market is not overbought, but it's also not in the cheap zone. Profit-taking is gradually gaining momentum, but a "mass exit" has not yet begun.