@echoglow
The bull market peaked 272 days after the 2017 peak. The bull market peaked 307 days after the 2021 peak. The 2024 peak was 304 days past the 2024 peak. #BTC: Realized Cap HODL Waves is an on-chain analysis metric that combines the "realized capital" (market value calculated based on the price at which Bitcoin last moved) of on-chain holdings with the "holding time distribution" to show the proportion of realized value of Bitcoins of different age groups relative to total realized capital. The metric in the figure shows the percentage of realized value of Bitcoins that have not moved in 3-5 years, which generally represents "more committed medium- to long-term holders." A significant decline in the number of holdings of such holders often coincides with the mid- to late-stage of a bull market.
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