Glassnode: 7% of Bitcoin Supply Locked in $60,000 to $65,000 Price Range
2024-04-26 21:43:07
Glassnode's URPD indicator provides an in-depth look at the distribution of Bitcoin's Unspent Transaction Output (UTXO) based on its creation price. Bitcoin's price has remained above $60,000 since February 28, with only two brief dips below that level, once on March 5 and once during a brief period between April 17 and April 19. Although Bitcoin briefly broke through $70,000 several times in March and April, the URPD indicator shows a significant build-up of supply between $60,000 and $65,000 - a range that BTC transactions have been in for the past two weeks. According to Glassnode, as of April 26, approximately 7% of total supply was concentrated in this range.
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