NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Bitcoin Closing In On This Bullish Crossover, Relief Finally Ahead?

Keshav Verma
Keshav Verma
Last Updated: June 11, 2024 7:50 am
3 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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 twelve months ago.

In the context of the current topic, the Age Bands of interest are the 1m-3m and the 2y-3y groups. The first of these represents the short-term UTXOs (as they haven’t aged much yet), while the latter denotes the long-term UTXOs.

Related Reading

Ethereum Bullish Signal: Whales Add $1B More To Their Holdings

3 years ago

Now, here is a chart that shows the trend in both these Bitcoin UTXO Age Bands in the last several years:

Bitcoin UTXO Age Bands

Looks like the two metrics have been approaching each other in recent days | Source: CryptoQuant

As you can see in the above graph, the 1m-3m Bitcoin UTXO Age Band has been declining recently, while the 2y-3y group has been observing a rise.

If both the indicators continue going in the current trajectory, then they will soon meet and go through a crossover, where the long-term Age Band will overtake the short-term one.

Related Reading

Bitcoin

Bitcoin “Diamond Hands” Have Dumped 84.5k BTC Since FTX Collapse

1 year ago

The quant has also highlighted the trends that followed in the price of BTC when such a pattern previously formed during the past few years.

It seems like whenever this kind of crossover has taken place for the crypto, the price has gone onto see a significant rise in the long term.

The significance of this cross is that it represents a shift in supply from short-term buyers (who are often weak hands) to the long-term holders (strong hands).

It now remains to be seen whether the Bitcoin UTXO Age Bands will go on and complete the cross, and if the same trend as in history will follow now as well.

BTC Price

At the time of writing, Bitcoin’s price floats around $16.5k, down 1% in the last week. Over the past month, the crypto has lost 13% in value.

Bitcoin Price Chart

The price of the coin seems to have recovered back above $16.5k during the last 24 hours | Source: BTCUSD on TradingView
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Tweet123Share196ShareSend
Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Epstein, MIT, Bitcoin : 7,5 M$ de fonds douteux au cœur d’une controverse.

Epstein, MIT, Bitcoin : 7,5 M$ de fonds douteux

L’affaire Jeffrey Epstein rattrape désormais le cœur de l’écosystème Bitcoin. De nouveaux documents du Congrès américain révèlent que le financier...

guillaumev 3 hours ago
Deblock : 30 M€ levés pour relier finance traditionnelle et DeFi.

Deblock : 30 M€ pour relier finance tradi et DeFi

En France, la frontière entre banque et crypto se fissure un peu plus. La fintech Deblock vient de lever 30...

guillaumev 4 hours ago
Ethereum

On-Chain Metric Tips Ethereum To Form Price Bottom Below $2,000 – Here’s Why

Ethereum has been a major victim of the ongoing crypto market onslaught, recording a 27.63% loss in the last month...

Semilore Faleti 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto krach : 1 Md$ liquidés en 24 h sur BTC, ETH, SOL.

Crypto krach : 1 Md$ liquidés en 24 h sur BTC, ETH, SOL

evanss 44 minutes ago
Bitcoin

Bitcoin Local Bottom To Fall Between These Two Levels – Analyst

Semilore Faleti 1 hour ago
Bitcoin

Bitcoin Rapid Downturn Triggered By Excessive Long Positions — Expert Weighs In

Opeyemi Sule 3 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨投資の注目候補:2025年に台頭するビットコイン系レイヤー2は次の主役となるか

    ...

    4 hours ago
  • 仮想通貨 プレセールの有望銘柄:市場クラッシュ時に資産を守る新興マイニング系プロジェクトとは

    仮想通貨...

    4 hours ago
  • 新しい仮想通貨が2025年に再び盛り上がり:次世代型トークン群が市場の流れを変える

    ...

    4 hours ago
  • 仮想通貨 1000倍 を狙う注目銘柄:存在感を増す“新興プロジェクト群”

    仮想通貨 1000倍...

    5 hours ago
  • ico 仮想通貨ガイド:犬系ミームトークンが2025年プレセールの有力候補に浮上

    ico...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.