Four-Year Cycle Total Engraving Series (21)

Current indicator value in the chart: 0.48 In 2014, it took 301 days for this indicator to go from 0.48 to its peak. In 2018, it took 266 days for this indicator to go from 0.48 to its peak. In 2022, it took 244 days for this indicator to go from 0.48 to its peak. Worth mentioning: the peak of this indicator generally corresponds to the starting point of a $BTC bull market. ┌── | Indicator Details ──┐ The upper indicator in the chart represents Bitcoin price; The lower indicator in the chart represents the ratio of Bitcoin on-chain "long-term holder average purchase cost" to Bitcoin on-chain "short-term holder average purchase cost".