Analyst Reveals Unusual Data About Bitcoin: "The Last Time This Happened Was When BTC Price Rose From 65,000 USD to 100,000 USD"

Cryptocurrency analyst Axel Adler shared a notable analysis of long-term Bitcoin investment behavior. According to Adler, the supply of long-term investors (LTH) has significantly decreased as the price of Bitcoin reached 118,000 USD. The analyst noted that so far, about 52,000 BTC have decreased, and explained this as a shift of long-term investors towards distribution rather than accumulation.
Adler argues that this shift in balance mirrors the long-term investment pattern when Bitcoin rises from 65,000 USD to 100,000 USD in the fall of 2024. According to the analyst, this distribution process will accelerate as prices rise, similar to previous macro cycles.
Another notable factor in Adler's assessment is volatility. The quarterly volatility of Bitcoin has decreased to 70%. This level is very close to the local low of 62% recorded at the $26,000 level in September 2023. Adler believes that this low volatility is a sign that large capital is flowing into the market, making Bitcoin a "slower" asset. The highest volatility recorded in this cycle was 143%, while in previous cycles, it had reached 236%.