1d ~ 1w UTXO Age Band (purple line): This represents the realized price of Bitcoin that has been held between 1 day to 1 week.

UTXO Bullish Signals:

When the market price crosses and stays above the realized price, it typically suggests that market sentiment is positive and investors are in profit. This can attract more buying, pushing the price higher.

UTXO Bearish Signals:

Conversely, when the market price drops and heads towards the realized price, it indicates a potential market correction or bearish sentiment. Investors might be looking to sell or realize their profits, leading to further declines.

Observations :

- The significant difference between the market price and the realized price of recently moved assets, most of the time, sees the price moving near to, above, or below the UTXO. This substantial difference may lead to a price reversal.

MACD based on Open interest :

- MACD shows bearish momentum with the MACD line below the signal line and in the negative territory means massive decrease in open interest ( many positions were closed ).

Estimated Leverage Ratio:

- shows a significant decline ( many positions were closed )

Funding rates :

- Funding rates are slightly negative, around -0.00, indicating that short positions are paying long positions ( Short positions dictate the opening of positions ) most of time lead to short squeeze .

Written by Amr Taha