[Bitcoin five-line chart update]

In November-December 2022, BTC bottomed out at Line1 (near 16k) for about 2 months

In August-October 2023, BTC bottomed out at Line2 (near 25k) for about 2 months

Currently, BTC has bottomed out at Line3 (near 56K) for about 1.5 months

The figure shows a Bitcoin price cycle model, which is designed based on on-chain data such as Coin Days Destroyed, Total Liquid Supply, and Realized Price. It uses 5 lines to fully cover the entire historical coin price from the top to the bottom.