Let's take a look at less than 1m Realized Cap BTC holder ratio again 🤔

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I wonder where we are on this cycle, so I regularly check this data. In this cycle, less than 1m Realized Cap BTC(Bitcoin) holder ratio is now around 20%, and it's the 2nd rise.

When less than 1m Realized Cap BTC holder ratio surpassed 50%, it has been good to sell BTC. But, it doesn't mean the end of cycles.

Therefore, If it touches 50%, I will increase cash ratio. Furthermore, as you know, the yield spread conversion from negative to positive occured several months ago. So, I'm worried about potential future risks. That's the reason why I will secure cash ratio.

For now, I expect this cycle will be a long-lasting bullish market. Because, Donald Trump administration, the Fed and Wall Street have positive perspectives of the crypto market, and they've been actually doing something for it.

I hope this cycle's pattern will follow 2017 pattern. It was like a long-lasting bullish market. But, 2017 summer was really tough time for crypto investors, and shaked weak hands 👐