DeFi Daily News
Tuesday, July 29, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Cryptocurrency Bitcoin

rewrite this title with good SEO Bitcoin UTXO Surpasses COVID 2020 Levels To New ATH

Scott Matherson by Scott Matherson
October 27, 2024
in Bitcoin
0 0
0
rewrite this title with good SEO Bitcoin UTXO Surpasses COVID 2020 Levels To New ATH
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

Este artículo también está disponible en español.

Bitcoin’s consolidation below $68,000 extended throughout this week, with bulls holding steady above the $66,000 support level. Although the cryptocurrency hasn’t seen a significant push to the upside, its ability to avoid a deeper correction means that Bitcoin remains on track to end October on a bullish note.

Related Reading

In support of this outlook, a crypto analyst has highlighted an emerging trend in Bitcoin’s UTXO metric, which suggests a looming breakout in the crypto’s price.

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. 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.

According to Glassnode data, the number of UTXO in losses spiked massively in September to surpass previous numbers, indicating that a significant portion of active Bitcoin addresses are underwater. However, while this may appear to signal bearish sentiment at first glance, history has shown this isn’t the case.

As pointed out by crypto analyst CryptoCon, major spikes in UTXO loss don’t come right before terrible price action, but they mostly come at the end of it. Keeping this trend in mind, the new peak in September most likely was an inflection point for Bitcoin’s price action for the rest of the year.

What Does This Mean For Bitcoin Price?

Past data reveals a consistent pattern: when UTXO in loss reaches extreme highs, Bitcoin’s price is often near a reversal. 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. 

Bitcoin is currently trading at $66,720. Chart: TradingView

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. This run culminated in a new all-time high for Bitcoin in March 2024, effectively showcasing spikes in the UTXO in loss as a signal of positive market momentum.

If history were to repeat itself, the September spike in the UTXO loss numbers could also signal a market bottom, which in turn opens up the stage for a rally in the rest of the year.

Related Reading

Interestingly, Bitcoin’s price action has been notably positive since this new peak in UTXO in loss. At the time, Bitcoin was trading around $57,000. Since then, it has experienced a considerable rally, inching closer to the $70,000 price level.

At the time of writing, Bitcoin is trading at $66,720.

Featured image from Pexels, chart from TradingView

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: ATHBitcoinCOVIDGoodLevelsrewriteSEOsurpassestitleUTXO
ShareTweetShare
Previous Post

rewrite this title Ethereum Ecosystem Set for a Breakout as Optimism Consolidates | Coin Media

Next Post

rewrite this title Game 2 takeaways: Dodgers take 2-0 World Series lead, but Ohtani exits with injury

Next Post
rewrite this title Game 2 takeaways: Dodgers take 2-0 World Series lead, but Ohtani exits with injury

rewrite this title Game 2 takeaways: Dodgers take 2-0 World Series lead, but Ohtani exits with injury

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
They’re Going ALL IN on Crypto: This is What Wall St is Buying!

They’re Going ALL IN on Crypto: This is What Wall St is Buying!

June 25, 2025
Tottenham Express Interest in Buying English Star as Club Considers Selling Him

Tottenham Express Interest in Buying English Star as Club Considers Selling Him

September 28, 2024
IT STARTED: US Bombs Iran and CRASHES Bitcoin… What’s NEXT?

IT STARTED: US Bombs Iran and CRASHES Bitcoin… What’s NEXT?

June 22, 2025
rewrite this title Ethereum Continues Losing Ground To Bitcoin With ETH/BTC Ratio at Multi-Year Lows | Bitcoinist.com

rewrite this title Ethereum Continues Losing Ground To Bitcoin With ETH/BTC Ratio at Multi-Year Lows | Bitcoinist.com

October 26, 2024
rewrite this title Finestel Rolls Out TradingView Bot and Custom Signal Bot to Boost Crypto Trading Automation

rewrite this title Finestel Rolls Out TradingView Bot and Custom Signal Bot to Boost Crypto Trading Automation

July 29, 2025
rewrite this title South Korea’s Ruling, Opposition Parties Clash Over Stablecoin Regulation – Decrypt

rewrite this title South Korea’s Ruling, Opposition Parties Clash Over Stablecoin Regulation – Decrypt

July 29, 2025
rewrite this title Ethereum Exchange Reserve Plummets: Over 1 Million ETH Withdrawn

rewrite this title Ethereum Exchange Reserve Plummets: Over 1 Million ETH Withdrawn

July 29, 2025
rewrite this title and make it good for SEOMass shooting in central business district shakes Manhattan, leaves at least 4 dead

rewrite this title and make it good for SEOMass shooting in central business district shakes Manhattan, leaves at least 4 dead

July 28, 2025
rewrite this title with good SEO China Busts M Bitcoin Laundering Ring Inside Tech Giant

rewrite this title with good SEO China Busts $20M Bitcoin Laundering Ring Inside Tech Giant

July 28, 2025
rewrite this title Pod Save America Team Announces November Launch Of Live Event “Crooked Con” In D.C.

rewrite this title Pod Save America Team Announces November Launch Of Live Event “Crooked Con” In D.C.

July 28, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.