Bitcoin Price Could Bottom at $95K Amid UTXO Age Band Analysis

Bitcoin's price has been stagnant, hovering around $102,000, with recent data suggesting potential further corrections. On-chain analyst Burak Kesmeci predicts that Bitcoin may bottom out at around $95,000.

Key Insights

The Realized Price of Unspent Transaction Output (UTXO) age bands indicate patterns in investor behavior and market sentiment.
Kesmeci focuses on the 1-week to 1-month and 1-month to 3-month age bands, noting historical price corrections when these bands crossed.
Previous corrections occurred on February 24 and September 8, with similar UTXO band crossings leading to short-term price dips.
Historically, a 13.3% average dip followed these crossings, with Bitcoin consolidating over about 45 days.
Current analysis suggests a potential bottom in the $95,000 to $96,000 range.

Currently, Bitcoin is priced at approximately $102,440, showing a slight decline of nearly 1% in the past day.

Bitcoin