BTC Four-Year Cycle Total Engraving Series 74

November 2015: This indicator broke above the +1 standard deviation line — adjusted for 21 days before charging toward the bull market recovery peak May 2019: This indicator broke above the +2 standard deviation line — adjusted for 27 days before charging toward the bull market recovery peak March 2023: This indicator broke above the +1 standard deviation line — adjusted for 20 days before charging toward the bull market recovery secondary peak September 2026: This indicator broke above the +1 standard deviation line — adjusted for 3 days so far ┌── On-Chain Data Details ──┐ Black line: Bitcoin price Orange line: Bitcoin on-chain short-term holder MVRV, along with its 5 standard deviation lines: +2σ, +1σ, 0σ, -0.8σ, -1.6σ (calculated using a 4-year rolling window)