Bitcoin UTXO Surpasses COVID 2020 Levels To New ATH – Is This Good Or Bad For Price?

Quick Summary:

UTXO In Loss Reaches Highest Point Ever The number of Bitcoin UTXO in losses recently reached a new peak on September 11, 2024, surpassing levels last seen during the COVID-19 crash in 2020 and the September 2023 market bottom.  This metric, known as Unspent Transaction Output (UTXO), refers to the amount of Bitcoin that remains unspent in a Bitcoin wallet after a transaction.

For instance, during the COVID-19 crash in March 2020, UTXO in loss spiked significantly, followed by a strong rally that led Bitcoin to new all-time highs in the following months.  The last time the UTXO in loss spiked massively was in September 2023, serving as the forerunner for the latest bull market cycle which kicked off in October 2023.

When UTXO is measured in loss, it reflects the number of Bitcoin holdings that would currently sell at a loss compared to the last transaction price from the Bitcoin wallet.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Btcusd Bitcoin Btc Crypto Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-27 @ 05:30:27 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 464 words

Reading Time: 3 minutes read

Sentences: 63 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23259386

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