CryptoQuant: Bull Market Still in Early Stage, BTC Long-Term Holder Ratio Signal Has Yet to Appear

In a QuickTake commentary recently published by CryptoQuant, author crypto-dan stated that historically, the share of BTC held for more than 18 months across the network first rises and then declines, often accompanied by strong rallies. The article argues that the market has entered a bull cycle but is still in its early stage, and the aforementioned signal has yet to appear; the market is not yet overheated, and the real rally may not have begun.