Analyst: Bitcoin Market Structure Achieves 'Healthy Reset,' Uptrend Could Receive Further Support

BlockBeats News, September 19th, CryptoQuant analyst Axel Adler Jr posted on Platform X, stating that since March, Bitcoin Long-Term Holders (LTH) have realized a price increase faster than spot, forming a healthy bullish divergence. Chips bought at the highs of spring and summer are maturing and entering the LTH group, with their higher cost basis boosting LTH realized prices, thereby compressing profit multiples and reducing risks in case of no price drop.

This process means that old low-cost chips are gradually being digested, while new high-cost chips are joining, leading to a market-wide "healthy reset." As short-term holder demand absorbs selling pressure from long-term chips, the cycle is expected to lengthen, and the upward price trend may receive further support.