‘UTXO Value Bands’ summarizes the behaviors of whales or retails separated by amount of coins they hold along with BTC’s price actions. In particular, the 1K-10K UTXO Value Bands are known to be the most trendy indicator according to its price, meaning that by watching their distribution by UTXO value change, we can get insight into the investors participating in the market. From that view, as ‘the whale group’ increased with its price back in 2019, they are slowly increasing with its price in 2023 too. If their indicators gradually increase, then we can be more confident that 1)its price at the end of 2022 is a long-term bottom, and 2) that its price will continue to rise.
Written by SignalQuant
