Bitcoin’s [BTC] UTXO hit 82% in profit- What does it mean for your portfolio?
The UTXO is a fundamental element of the Bitcoin network, which defines where a transaction starts and finishes. It also describes discrete BTC pieces that can act as input in a new transaction.This condition explains that many investors took advantage of the BTC price below $20,000. Also, it indicated that many UTXOs were created within the said period.According to the analyst, the last time the market had the metric in a high state was during the 2021 bull market.
Pointing to the 50 and 200 weekly Moving Average , the trader opined that the biggest one-day rally could be surpassed again.BTC surprised everyone & took aavoid death Cross on weekly chart.
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