BTC UTXO Return Rate Index Drops to Lowest Level Since October 2021, Signaling Potential Price Rebound
CryptoNewsTerminal Staff05 Sep, 2024
BTC UTXO Return Rate Index Drops to Lowest Level Since October 2021, Signaling Potential Price Rebound
CryptoQuant contributor EgyHash has analyzed that the "BTC UTXO return rate index, an indicator that shows the unrealized profit and loss of all Bitcoin holders, has dropped from 99% in June to 68.5% in September, reaching its lowest level since October last year. In the past, when this indicator was 68.5%, the price has rebounded many times." He added, "This indicator measures the ratio of UTXOs (unspent transactions) with current profit against the price at the time of the last transaction of total UTXOs. In September last year, it surged 273% and reached an all-time high." At the time of writing, BTC is trading at $56,244.5, up 0.19% according to CoinMarketCap.
