😐 From the latest Glassnode report:
📊 The 4-year cycle seems to be holding… but 📉 everything could be different — the market is unpredictable.
💸 The inflow of capital into BTC has slowed down — investors are not rushing to invest new money at current levels.
🟣 Ethereum is becoming an indicator of "altseason":
📌 its share in OI has reached a 4th record;
📌 the volume in perpetual futures has set a new ATH (67%).
➡️ This indicates a shift in interest towards alts and an increase in speculative activity.
⏳ In previous cycles (2015–2018, 2018–2022), ATH occurred 2–3 months later than now relative to the minimum point.
💰 Long-term holders have already realized profits comparable to the late phases of past cycles.
📈 The share of supply in profit remains at a historically high level — as before.
⚖️ Everything indicates that the cycle is "ripe":
— slowdown in capital inflow 🐌
— increase in leverage 📊
— interest in alts 🚀
❗But each cycle is unique — a strict adherence to the 4-year pattern remains conditional.
