Is Bitcoin Finding a Bottom? What The UTXO Data Is Telling Us
Bitcoin’s price recently experienced another significant downturn, falling below $80,000 earlier today—a nearly 20% decrease in just the past week. This prolonged slump highlights the broader challenges facing the market, with minimal signs of recovery in sight. Amid this turbulent price activity, insights from tugbachain, a contributor to the CryptoQuant QuickTake platform, have shed light on an intriguing trend within the Bitcoin market: the shifting patterns of UTXO Realized Price Age Distribution. Related Reading: Bitcoin’s 60-Day CDD Spikes: A Warning Sign or Buying Opportunity? UTXO....
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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....
BTC bulls aim to confirm $20,000 as support as fresh on-chain data begins to signal that the bottom might be in. While Bitcoin (BTC) price support may be psychological for some traders, the statistics behind BTC remaining over $20,000 for a week are strong indicators of price support or in other words, a new bear market floor. Multiple Bitcoin data points might be able to establish a $20,000 support level. Last week Bitcoin reached a high of $20,961. However, it never sustained its upward momentum as the rally fizzled out, failing to break $21,000 support. As a result of the rally as well....
Data reveals that mostly mid-to-long term holders were selling their Bitcoin during November, thus being responsible for the correction. Bitcoin UTXO Age Shows Mid-Term Holders Sold Their Coins In November As per the latest weekly report from Arcane Research, mid-term holders seem to be behind the decline in BTC’s price during the month of November. The relevant on-chain indicator here is the “UTXO Age.” UTXO stands for Unspent Transaction Output; you can think of it as a Bitcoin mechanic that keeps track of coins on the chain. The UTXO age metric measures how long it has....
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....
The potential future upgrade “Assume UTXO” offers new Bitcoin Core users a speedy solution to get up to speed with the network. The post Video: Sync Bitcoin Faster! Assume UTXO appeared first on Bitcoin Magazine.