“These periods have always been profitable for long-term investors,” said CryptoQuant analyst Darkfost.
Analysis of Bitcoin unspent transaction outputs (UTXOs) shows that investors are capitulating, a pattern that has historically coincided with bear market bottoms.
The ratio of the number of UTXOs spent in profit versus at a loss has fallen to its lowest level this bear market cycle, said CryptoQuant analyst known as Darkfost on Saturday.
This is the first time this signal has triggered since the start of the correction, “demonstrating that the number of UTXOs spent at a loss is reaching significant levels, reflecting the start of a broader capitulation,” he said.
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