BlockBeats News, June 26th, CryptoQuant analyst Axel posted on social media, stating that in this bull run, Bitcoin's long-term holders (LTH) have consistently increased their holdings before each major price surge.
The first occurrence of this phenomenon was near $28,000: after a 1-2 month increase in LTH's holdings relative to short-term holders (STH), it eventually led to a price breakthrough to $60,000.
The second similar accumulation took place during the consolidation phase around $60,000, which provided the momentum for the subsequent surge to $100,000.
Now, at the key $100,000 level, a continued increase in the LTH/STH holding ratio has been observed: this accumulation phase may last for another 4-8 weeks. Referring to the patterns of the previous two cycles, a strong uptrend is highly likely to follow. Using a relatively conservative multiplier of 1.6x, the next target range for the uptrend would be around $160,000.
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