The percentage of Bitcoin UTXOs (Unspent Transaction Outputs) in profit has decreased significantly, reaching its lowest level since October 2023. Specifically, the proportion of Bitcoin UTXOs in profit declined from 99% in June to 68.5% in September.
This decline suggests that some traders have realized profits, which has contributed to a decrease in Bitcoin’s price due to ongoing selling pressure.
The last time the percentage of Bitcoin UTXOs in profit dropped to 68.5%, Bitcoin's price saw a significant surge of 273%, climbing from $26,700 to $73,000 and achieving a new all-time high.
Written by EgyHash
