In the mid-term of the 2016 bull market, this indicator peaked, 354 days away from the bull market top at the end of 2017.

In the mid-term of the 2020 bull market, this indicator peaked, 352 days away from the bull market top in the first half of 2021.

In the mid-term of the 2024 bull market, this indicator peaked, 57 days have passed since then.

The upper indicator in the chart represents the #BTC price; the lower indicator shows the proportion of #BTC that has not moved on-chain for 6-12 months (weighted by Realized Cap, using a 7-day MA).

It is worth mentioning that historically, during this period, the coin price has experienced three major corrections (the blue arrows in the chart).