Analysts at CryptoQuant warned that given current market conditions, Bitcoin investors may begin to take profits, which has historically led to a correction.
Area of high interest for crypto market participants
“Currently, 97.3% of Unspent Transaction Outputs are in profit, which means that we should pay more attention as we can see a possible selling pressure in the next period if $BTC investors want to take profit.”
by @Simona_APC… pic.twitter.com/OnfJsfSxOI— CryptoQuant.com (@cryptoquant_com) February 13, 2024
CryptoQuant noted that UTXO can remain profitable for a long period. The company also suggested that “the distribution process occurs with multiple participants entering the market.”
Source: Cryptocurrency

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