According to the latest research report, on-chain data reveals several key information for us:

First of all, it is worth noting that the cost line of up to 2 million Bitcoins has crossed the $61,200 threshold. This data shows that throughout the history of Bitcoin, a considerable number of holders purchased the cryptocurrency at relatively high prices. This is not just a number, but a concentrated expression of market power and investor belief.

Secondly, as Bitcoin (BTC) hits a new all-time high, long-term holders begin to gradually cash in their chips and realize profits. This includes investors in the Grayscale Bitcoin Trust Fund (GBTC). According to data, the market currently realizes daily profits of up to 2.6 billion US dollars. This is a liquidity phenomenon that cannot be ignored.

Finally, by comparing the current market cycle with the previous cycle from 2018-2021, we find striking similarities between the two. Judging from the duration of the cycle and the timing of reaching the peak, the current market is in a similar situation to December 2020. This suggests that, despite Bitcoin’s significant gains, this cycle has yet to reach its true peak.

In summary, these data and phenomena not only provide us with valuable clues to market dynamics, but also reveal the deep logic and power behind the cryptocurrency market. For observers and participants of virtual currencies, understanding these phenomena and making reasonable strategic adjustments accordingly will be the key to their invincibility in this magnificent market. #Meme #新币挖矿 #大盘走势 #WIF