#比特币市场动态分析# Looking back at the history of the Bitcoin market, I can't help but recall the bull run of 2013. At that time, BTC skyrocketed from $13 to over $1,000, and many believed that was the peak. But a decade later, even the costs for short-term holders are above $110,000. This once again confirms the importance of market cycles.

Glassnode's latest data shows that the current price of BTC is above the short-term holding cost range for the past 24 hours to 3 months. This means that even if a pullback occurs, it is likely to find strong support between $110,000 and $117,000. Historically, this price structure often indicates a higher probability of a bull run.

However, we must also be cautious. In past cycles of bull and bear transitions, there have always been those who are blindly optimistic, believing that "this time is different." Prudence is key to investing. Although the current data looks promising, we still need to closely monitor market sentiment and changes in the macro environment. After all, in this rapidly changing market, nothing is permanent.