On-chain data shows Bitcoin is closing in on a crossover that has historically proved to be bullish for the price of the crypto.
Bitcoin Short-Term And Long-Term UTXO Age Bands Approach Crossover
As pointed out by an analyst in a CryptoQuant post, BTC has usually observed a significant rise following the formation of such a crossover.
The relevant indicator here is the “UTXO Age Bands,” which tells us the percentage of the Bitcoin supply that each group is holding right now.
The different Age Bands denote the time period between which each UTXO (or simply, each coin) falling into said band was last moved.
For example, the 6m-12m UTXO Age Band includes the part of the BTC supply that hasn’t been transferred since six to