According to CoinMeta, as analyzed by analyst Axel Adler Jr, after the adjustment, the ratio of Bitcoin's 30-day moving average to its 365-day moving average crossed above the 365-day moving average on August 20th, marking the beginning of an early bull market phase for Bitcoin, with a price of $71,255 at that time. On September 20th, this ratio surpassed the 1.0 benchmark, and Bitcoin entered a bull market phase at a price of $80,691. Currently, the ratio is 1.018, with Bitcoin priced at $84,156. As long as the ratio remains above 1.0, the bullish trend will continue. Since 2012, this is the sixth time such a transition from an early bull market phase to a full bull market has occurred.