Bitcoin’s Unspent Transaction Outputs (UTXOs) in profit have risen to approximately 84%, coinciding with the digital asset’s price reaching around $63,800. This marks a recovery from earlier in the summer when UTXOs in profit dipped to about 65% during price corrections below $55,000.
The higher percentage of UTXOs in profit indicates that more holders are currently realizing gains, often correlating with positive market sentiment. As the price climbs, the proportion of profitable UTXOs tends to increase, signaling potential bullish momentum in the market.
The uptick in UTXOs in profit aligns with historical patterns where rising profit percentages accompany upward price movements. This metric is a barometer for market confidence and may influence trading behaviors.
The recovery to 84% UTXOs in profit suggests renewed optimism among investors following periods of volatility earlier in the year. The highest level this year was reached in March and May when Bitcoin UTXOs twice reached almost 100%.
Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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