163 days after the 16-year BTC mining output was halved, long-term coin holders on the chain started a bull market distribution

163 days after the 20-year BTC mining output was halved, long-term coin holders on the chain started a bull market distribution

It has been 133 days since the 24-year BTC mining output was halved

The indicator in the figure is the percentage of the number of chips of long-term coin holders on the chain. The red line is the ⟨13-17 years⟩ segment of the indicator; the blue line is the ⟨17-21 years⟩ segment of the indicator; the black line is the ⟨21 years-to-now⟩ segment of the indicator. The three lines align the halving days of BTC mining output in each cycle.

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