BTC Four-Year Cycle Series 87

Before the 2016 halving: This indicator peaked at 7.8‰ (corresponding to the mini bull top) Before the 2020 halving: This indicator peaked at 7.1‰ (corresponding to the mini bull top) Before the 2024 halving: This indicator peaked at 7.5‰ (corresponding to the mini bull top) ┌ Indicator Details ┐ The indicator shown at the bottom of the chart represents the 7-day moving average of BTC on-chain realized profit (Realized Profit) as a percentage of BTC purchase cost market value (Realized Cap).