Bitcoin (CRYPTO: BTC) — the world’s first cryptocurrency — is seeing fewer balances currently in profit, which is a counterintuitively bullish sign.
What Happened: The seven-day moving average of Bitcoin’s number of unspent transaction outputs (UTXOs) in profit just reached an 18-month low of 103.3 million, according to a Monday tweet by Glassnode Alerts — the Twitter profile sharing on-chain trends of blockchain data firm Glassnode.
See Also: How To Earn Free Crypto
This means that only 103.3 million transaction outputs (coins moved at once) are now worth more …
Full story available on Benzinga.com