[BTC] the Market Is Full of Expectations That It Will Rise Further!

The UTXO Count- Age Band indicator shows UTXO divided by period. This can give you an idea of what market sentiment is like. Just two months ago, the market was trending sideways. It was mentioned in the previous Quicktake that the transition from Young → Old coin occurred during this period. Will old coins still HODL BTC despite the rally at the end of October? 🟢The green band represents the number of UTXOs between 6 and 12M. These can be seen as investors who accumulated BTC from November 2022 through the bottom section until May of this year. And these are 🟠1M~3M and 🟡3M~6M UTXOs that are matured one after another. Therefore, if 🟢6M~12M has increased by the amount of their decrease (arrow on the chart), it can be seen that the HODL tendency of BTC investors is being maintained. Although it is not as much as the decrease of 🟠🟡(1~6M) combined, we can see an dramatic increase of 🟢6M~12M UTXO. With the BTC halving expected in April next year and the increased likelihood of approval of a BTC spot ETF, market expectations are inflated. 💡In other words, market confidence has become stronger and they will not be willing to spend BTC until a strong bull market begins. Therefore, the accumulation trend will continue, and prices are unlikely to fall easily anytime soon. Written by Yonsei_dent