Bitcoin UTXO Falls To Lowest Level Since April 2024 — What This Means For Price
According to the latest on-chain data, Bitcoin has been witnessing an interesting change in its holder behavior, further intensifying the bullish speculation in the market. Bitcoin UTXO Count Declines As Price Surges In a Quicktake post on CryptoQuant, market analyst CryptoOnchain revealed that long-term Bitcoin investors seem to be changing their investment strategy by increasingly holding on to their coins. This on-chain observation is based on the Bitcoin UTXO Count metric, which tracks the total number of individual unspent transaction outputs on the blockchain. Related Reading:....
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Andreas Antonopoulos published an interesting article last August on the effect segregated witness (Segwit) may have on the unspent transaction output set (UTXO set). I didn’t agree with the conclusions in that article, and thought about writing about it back in August. Which I didn’t. Now that the article has sailed up as hot stuff again on the....
Recent data from Santiment indicates a noticeable decrease in Bitcoin whale activity, reaching the lowest levels seen in 2024. This trend shows that holders of large amounts of Bitcoin, known as whales, are drifting away from active trading. While this could signal a negative trend, the situation presents a complex picture of the cryptocurrency’s market dynamics. Despite the fall in whale activity, the total number of Bitcoin wallets with at least 100 BTC remains high, at 11.79 million BTC across 15,907 wallets. Historically, increased activity from these large holders has often....
A new Bitcoin price target has been set at $109,000, with an analyst predicting that the pioneer cryptocurrency could surge to this projected level before the end of the year. This bullish forecast comes as Bitcoin experiences new momentum that has pushed its price well above $67,000. New Bitcoin Target Set At $109,000 A Bitcoin technical analyst identified as ‘CryptoCon’ has taken to X (formerly Twitter) to unveil his bullish prediction for the Bitcoin price. While many analysts believe that this Q4 is a significantly bullish period for Bitcoin, CryptoCon confirms this sentiment by....
According to a recent CryptoQuant Research post, Bitcoin (BTC) network activity has slumped to a 12-month low, with CryptoQuant’s Bitcoin Network Activity Index currently at its lowest level since February 2024. Bitcoin Network Activity Drops As Market Consolidates Data from CryptoQuant’s Bitcoin Network Activity Index shows that activity has declined by 15% from its peak in November 2024. As of February 5, the Index stands at 3,760, marking its lowest level in the past year. Related Reading: Bitcoin 4-Hour RSI Hits Oversold Zone – Is A BTC Rebound Near? The decline in network activity is....
Bitcoin has today broken past $21k in a sharp surge as on-chain data suggests signs of accumulation from the investors. Bitcoin UTXO Value Bands Show Multiple Groups Have Been Buying Recently As pointed out by an analyst in a CryptoQuant post, the value bands who took profit around ten days ago are now accumulating again. The relevant indicator here is the “UTXO value bands,” which tells us what percentage of the total Bitcoin supply is held by which groups. The value bands or groups here are divided based on the number of coins in each Unspent Transaction Output (UTXO), or....