🔎 SwapSpace Research | Approaching the Bull Cycle Peak

🥇 The ratio of Bitcoin volume (%) traded over a 6 to 12-month period reflects the capital that has entered the market during this cycle, and it is closely linked to market movements.

Typically, this ratio first declines, signaling the end of the early phase of the bull cycle. After some time, it declines again, reaching a lower level than the first drop, marking the end of the bull cycle.

🗓 Bitcoin reached a critical midpoint in March 2024, and it now appears to be heading towards the peak of this bull cycle.

#research #bitcoin #bullcycles #analytics

🔎 SwapSpace Research | BTC Supply

🥇 Bitcoin in Loss: 3,807,164 BTC (19.1%). That’s a significant chunk of the circulating supply sitting in the red.

While it might seem alarming, it's not unprecedented.

In fact, we saw similar dips in 2024.

🗓 Jan 22, 2024: 24.1% - 4.72M BTC
🗓 July 06, 2024: 22.4% - 5.13M BTC
🗓 Aug 05, 2024: 27.5% - 5.43M BTC
🗓 Sep 06, 2024: 29.9% - 5.90M BTC

#research #bitcoin #analytics #btc