On June 26, CryptoQuant analyst Axel posted on social media that during the current bull market, Bitcoin has seen three significant rise events where long-term holders (LTH) consistently increased their holdings before a strong price surge. The first occurrence of this phenomenon was near the $28,000 level: after a 1-2 month increase in the holdings ratio of LTH relative to short-term holders (STH), it ultimately pushed the price above $60,000. The second similar accumulation happened during the $60,000 sideways phase, and this accumulation provided momentum for the subsequent rise to $100,000. Now at the critical price level of $100,000, a continuous increase in the LTH/STH holdings ratio has been observed again: this accumulation phase may last for 4-8 weeks, and based on the patterns of the previous two cycles, a strong pump is likely to occur afterwards. If a more conservative multiplier of 1.6 is applied, the target range for the next rise will point to $160,000.
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Analysts: The Bitcoin LTH/STH Holdings ratio continues to rise, which may lead to another one-sided pump.
On June 26, CryptoQuant analyst Axel posted on social media that during the current bull market, Bitcoin has seen three significant rise events where long-term holders (LTH) consistently increased their holdings before a strong price surge. The first occurrence of this phenomenon was near the $28,000 level: after a 1-2 month increase in the holdings ratio of LTH relative to short-term holders (STH), it ultimately pushed the price above $60,000. The second similar accumulation happened during the $60,000 sideways phase, and this accumulation provided momentum for the subsequent rise to $100,000. Now at the critical price level of $100,000, a continuous increase in the LTH/STH holdings ratio has been observed again: this accumulation phase may last for 4-8 weeks, and based on the patterns of the previous two cycles, a strong pump is likely to occur afterwards. If a more conservative multiplier of 1.6 is applied, the target range for the next rise will point to $160,000.