BTC Four-Year Cycle Series 86

November 2015: Red line breaks above green line → 1.4 months later, bull market recovery peak May 2019: Red line breaks above green line → 1.2 months later, bull market recovery peak June 2023: Red line breaks above green line → 1.3 months later, bull market recovery peak ┌─ Indicator Details ─┐ Red line: Average purchase price of short-term holders' BTC on-chain Green line: Average purchase price of long-term holders' BTC on-chain (excluding BTC inactive for >7 years)