- UTXO spike at $105K signals major potential resistance zone.
- Short-term holders’ rising cost basis increases correction risk.
- Funding rates show leverage building near a historically resistant range.
Bitcoin’s rally toward new highs has intensified scrutiny of key on-chain data points. CryptoQuant data reveals a sharp concentration of UTXOs around the $105,644 level.Â
The Bitcoin UTXO price histogram shows a vertical spike within the $105,664 to $149,156 range. Analysts report this zone as a dense cluster where a large number of Bitcoins were last moved.
The presence of this UTXO wall suggests that many holders acquired their coins near this price point. According to analysts, these investors could be looking to exit positions as the price revisits this range. The risk of sell pressure increases if traders aim to break even or secure profits.
The histogram’s spike indicates substantial on-chain activity at this level. Such UTXO concentrations have historically acted as resistance, due to the psychological and technical significance of break-even points.
Short-Term Holder Behavior and Price Pressure
CryptoQuant’s realized price metric for 1–3 month holders calculates the average acquisition cost of short-term investors and is currently trending upward. However, it remains below the spot price, highlighting unrealized profits for this investor group.
Analysts view this divergence as a marker of short-term holders sitting in profit. Since this group tends to react quickly to price changes, the cost basis becomes a key area to watch.
If Bitcoin dips below its average purchase price, panic selling could follow. At press time, Bitcoin is trading at $113,958.69, down 0.62% in the last 24 hours.
Funding Rates Highlight Demand Sensitivity
The funding rate chart, overlaid with Bitcoin’s price, reveals current funding at approximately 0.01%. Green areas show positive financing, suggesting that long positions are paying shorts. This reflects a mildly bullish sentiment, with steady upward price action.
However, funding rates historically spike near resistance levels, often leading to temporary pullbacks. Analysts caution that if rates turn negative while prices remain high, demand may be weakening. This has previously indicated exhaustion in leveraged buying.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
