Phase ③ of the Bitcoin bull market in 23-25 ​​years is in full swing😼

The upper indicator in the figure is the BTC price; the lower indicator is the proportion of chips held by long-term holders on the BTC chain, among which chips that have not been moved for more than 7 years are considered to be long-term dormant or lost and are excluded from the calculation.

Note: The chips of long-term holders on the chain refer to BTC that have not been moved on the chain for more than 155 days (the time is calculated from the last movement of BTC on the chain).