2014: 124 days to the bear market bottom after the price dropped below the green line 2018: 188 days to the bear market bottom after the price dropped below the green line 2022: 193 days to the bear market bottom after the price dropped below the green line 2026: 146 days to $57.8k after the price dropped below the green line ┌── On-Chain Data Details ──┐ The green line in the chart represents the LTH Spent Price (Long-Term Holder Spent Price), which is the average purchase cost of bitcoin:native sold by long-term holders (holding ≥155 days) on that day. It reflects the weighted average cost of the coins being spent (sold). When the price drops below the LTH Spent Price and stays there for over 100 days until the bear market bottom, it indicates that long-term holders have entered a sustained phase of selling at a loss. This reflects the market entering a deep capitulation phase, where even the strongest hands are shaken out—a classic signal in history that the bear market is nearing its end and the cycle bottom is approaching.