Bitcoin UTXO Profit-Loss Ratio Touches Lowest Level Since Current Downturn on June 28, Signals Market Surrender

According to CryptoQuant analyst Darkfost on June 28, Bitcoin's unspent transaction output (UTXO) profit-loss ratio has declined to its lowest level in the current downturn, indicating the market is entering a broader surrender phase and marking the first time this indicator has signaled capitulation during this cycle.

Darkfost noted that the amount of loss-making UTXO has reached significant levels, historically associated with bear market bottoms and presenting favorable accumulation opportunities for long-term investors. The last time this indicator reached similar levels was in mid-2023, when Bitcoin dropped to approximately $26,000.