Bitcoin in a Supercycle? Analyst Will Clemente Says Long-Term BTC Holders Changing Market Structure

Bitcoin in a Supercycle? Analyst Will Clemente Says Long-Term BTC Holders Changing Market Structure


Popular on-chain analyst Will Clemente says that a Bitcoin supercycle is in the cards as long-term BTC holders are changing the market structure of the leading cryptocurrency.

Clemente tells his 205,900 Twitter followers that the illiquid supply ratio, a metric that tracks the number of illiquid coins relative to overall BTC supply, has been in a strong uptrend ever since Bitcoin recovered from the pandemic-induced panic last year.

 

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“If I had to use one chart to argue that we are in a ‘Supercycle’ it would be this. Macro HODLing (hold on for dear life) behavior has shifted after March of last year. Makes a convincing case for the end of the 4-year cycle.

Source: Will Clemente/Twitter

A Bitcoin supercycle is a thesis suggesting that BTC will continue rallying and print fresh all-time highs instead of entering a bear market and having massive 80% drawdowns just like what happened during the end of the 2013 and 2017 bull cycles.

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