The Bitcoin Regime Score is a composite market-state indicator (0-100) that classifies the current phase of the Bitcoin market rather than attempting to time exact tops or bottoms.

It combines six dimensions, each normalized by cumulative historical percentile rank (expanding window, no look-ahead bias) and oriented so that higher values mean a hotter market: on-chain valuation (MVRV Z-Score, NUPL, aSOPR, Reserve Risk, LTH net position change), price trend (Mayer Multiple, price / 200-week moving average, 90-day return, RSI), realized volatility, perpetual funding and open interest, exchange flows, and spot ETF flows.

The line color follows the score itself: red from 0 to 25, orange from 26 to 50, yellow from 51 to 75, and green from 76 to 100.

The regime classification combines the score level with its 30-day direction: EXPANSION (score ≥ 60 and rising), DISTRIBUTION (score ≥ 60 and falling), CAPITULATION (score ≤ 40 and falling), RECOVERY (score ≤ 40 and rising), TRANSITION (score between 40 and 60).

The series starts in November 2011 and is recomputed in full every day, so late-arriving upstream data is always folded back into the history.