Bitcoin UTXO Capitulation Signal Flashes for First Time in Current Correction on June 29

BTC-1.00%

According to Cryptoquant contributor Darkfost, on June 29, the UTXO Block Profit/Loss Count Ratio capitulation signal flashed for the first time during the current correction. The metric measures the balance between bitcoin transactions completed in profit versus those at a loss by analyzing on-chain transaction outputs.

Historically, similar signals appeared near major bitcoin bear-market bottoms in 2016, late 2018, 2020, and 2022. Crypto analyst Quinten François noted the indicator "flashed at every bitcoin cycle bottom since 2016. And it just flashed again."

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