On-chain data shows Bitcoin has recently made a break that led to rallies of at least 99% during the last three times it happened. Bitcoin Has Now Crossed Above “Single Cycle HODLers” Cost Basis In a new post on X, analyst Ali has talked about a level that BTC has broken recently. The level in question is the cost basis of the single-cycle Bitcoin long-term holders. The terms may be unfamiliar, so here’s what they mean, one by one. First, the “long-term holders” (LTHs) here refer to the investors who have been holding onto their coins since at least 155 days ago. The LTHs are made up of the resolute diamond hands or HODLers, who rarely sell even when volatility occurs in the market. Related Reading: XRP Enjoys 11% Rally As Sharks & Whales Hit 2023 High Holdings Next, the “single cycle HODLers” specifically refer to those LTHs who bought within the span of a single BTC cycle. Their range is typically taken to be 6 months to 3 years. This means that the oldest among these investors (with coins aged 3 years) ..
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