Four-Year Cycle Total Engraving Series (20)

2015 bear market bottom, this indicator value was 27.3% 2018 bear market bottom, this indicator value was 27.5% 2022 bear market bottom, this indicator value was 27.4% Currently, this indicator value is 26.9% ┌── | Indicator Details ──┐ The top indicator in the chart represents BTC price; the bottom indicator in the chart represents the percentage of the total BTC market cap held by long-term holders whose positions are currently at a floating loss. (Note: Bitcoin that hasn’t moved on-chain for over 10 years is considered long-term dormant or lost and excluded from the calculation.)