CryptoQuant Founder Ki Young Ju stated that the current price of Bitcoin is similar to two years ago, but the on-chain structure has changed significantly. The group of buyers holding coins for 6 months to 2 years in this cycle now accounts for 53% of BTC's realized market value, up from 15% two years ago. He believes that in the previous cycle, Bitcoin bottomed out when this ratio rose to 68%. This indicates that short-term holders are gradually converting into long-term holders, and the market's chip distribution is undergoing a change.

BTC-5.54%
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StargazingWithAMirroredSphere
· 7h ago
On-chain structure is more important than price; learned that.
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GateUser-04e4dac2
· 7h ago
Chip turnover completion rate 53%, wait until 68% to see the bottom.
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Half-SectionSucculentPie
· 8h ago
This data is interesting; long-term holders are quietly accumulating.
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FrontrunTherapy
· 8h ago
15% two years ago, now 53%: a signal of a structural bull market
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GateUser-14cb5f72
· 8h ago
Buyers held onto their positions this cycle, indicating faith is present.
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VinylRadioProphecy
· 8h ago
53% to 68% still have room, the bottom is unconfirmed
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IceCreamUnderTheNeonLights
· 8h ago
Short-term to long-term, selling pressure decreases, good news
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GateUser-5d719aba
· 8h ago
Ki's data is always very hardcore, focusing on the 68% threshold
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