币界网报道：Axel, an analyst at CryptoQuant, wrote that in the three major Bitcoin rallies in this round of bull market, long-term holders (LTH) always continued to increase their holdings before the price rose strongly. The first time this phenomenon occurred was near the $28,000 mark: after 1-2 months of increase in the proportion of LTH holdings relative to short-term holders (STH), the price finally broke through $60,000. The second similar accumulation occurred during the sideways phase of $60,000, and this wave of accumulation provided momentum for the subsequent surge to $100,000. Now at the key price of $100,000, the continued growth of the LTH/STH holding ratio has been observed again: this round of accumulation phase may last 4-8 weeks. Referring to the laws of the previous two cycles, there is a high probability that a strong upward trend will occur afterwards. If a more conservative 1.6x multiplier is used, the next round of upward target range will point to $160,000.