Bitcoin has also gained 130% in the past 12 months and is up more than 207% since the November 2022 lows, currently trading at just -28.6% below its peak. As the market gets closer to its 2021 highs, there is less and less supply of BTC costing above that level.

This leaves the vast majority of investors and the supply they hold in profit, bringing the market closer to another transitional phase where long-term holders begin to take chips off the table.