Analyst: Bitcoin UTXO Indicator Shows Market Entering Capitulation Phase, Possibly Approaching Cycle Bottom Area

Odaily reported that according to Darkfost, Bitcoin UTXO data shows that the current ratio of loss-making transactions to profitable transactions in the market has fallen to the lowest level of this bear market cycle, indicating that investors are entering a clear "capitulation" phase. This indicator has been triggered multiple times at historical cycle bottoms, with the last similar low occurring during the deep bear market phase in mid-2023, when Bitcoin’s price once fell to approximately $26,000.