TechFlow News, July 15, according to monitoring by on-chain analyst Darkfost (@Darkfost_Coc), the proportion of loss-making UTXOs in the Bitcoin market continues to expand, and the loss/profit UTXO ratio has risen to an extreme range, a level that has historically only appeared during periods of deep bear market pressure.
Darkfost pointed out that this indicator measures market sentiment by calculating the ratio of the number of profit/loss UTXOs, is not distorted by the absolute value of BTC price, and has strong historical consistency. Current readings show significant position loss pressure, possessing certain accumulation value from a long-term perspective; however, caution is needed when market sentiment shifts, as the number of profitable UTXOs climbs rapidly, pushing the ratio sharply higher, which may then signal a phase top.
