BTC Four-Year Cycle Series Update

In the history of Bitcoin, during the early to mid stages of each bear market bottoming phase, the black line often successively breaks below the orange line and then the blue line. Today, the black line has just broken below the orange line. ┌ Indicator Details ┐ Black line: On-chain average purchase cost of short-term holders ($75,420) Orange line: On-chain average purchase cost of investors holding for less than 5 years ($75,677) Blue line: On-chain average purchase cost of investors holding for less than 7 years ($70,713)