After Phase 1, the LTH (Long-Term Holder) supply, which had been accumulating again, has begun to be distributed.
A key condition for moving into Phase 2 is an increase in STH (Short-Term Holder) supply, specifically through a surge in new capital.
Currently, the market is experiencing abundant new liquidity.
The cycle is repeating and resembles the 2017 cycle.
Written by Mignolet