Analyst Crypto Ali Martinez shared some critical information about the current Bitcoin (BTC) market on the basis of the UTXO (URPD) price distribution. Using this record, a well -known market expert emphasized key levels of support and resistance, with a potentially sturdy impact on the direct movement of BTC prices.

After the next week of universal market uncertainty, Bitcoins prices remain in consolidation, not reaching an effective breakthrough above USD 84,380.

Bitcoin Bull Run: $ 97 532 has the key to the renovated rush of stubborn rush

In chain analysis, an unsleased transaction output (UTXO) represents the rest of the Bitcoins after each transaction, which can be used as input data in a up-to-date transaction. Therefore, the implemented UTXO price distribution allows analysts to identify price levels at which the current supply supply Bitcoin has recently been moved. Emphasizing price levels with high utxos concentrations, URPD is an critical measure in discovering resistance and support levels.

IN X Post On March 22, Martinez data from Glassnode show a sturdy UTXOS group around USD 83,444, indicating that many investors have the basis for costs at this level. Currently, the BTC price is much above this level of support, which shows potential growth. However, Martinez notes that stiff resistance is waiting for market bulls at a price level 97,532 USD, which also hosted a huge amount of UTXOS.

The analyst explains that the successful permission of this resistance price would signal the renovated stubborn BTC rush, which has undergone a significant correction over the past few months. In a highly positive Bitcoin scenario, it will probably augment towards up-to-date ups of all time. However, the lack of transfer of USD 97,532 may force BTC to stay in consolidation, and even a repetition to reduce support levels.

Bitcoin breeding to resume the return?

In other events, Martinez suggested that the current Bitcoin correction probably continues based on the Bitcoin Sharpe ratio. In the context, the Sharpe factor determines whether BTC returns are currently worth a level of risk.

Analyst explains These best market entries took place when the Bitcoin Sharpe indicator is low, which is a favorable opportunity to buy. However, the current Sharpe indicator indicates a high risk, which suggests that potential BTC investors may require patience.

Martinez said:

We are not there yet, but approaching can signal the main shopping window!

At the time of writing, BTC still trades at USD 84,075 after increasing the price by 0.27% in the last 24 hours. However, the daily volume of asset trading increased by 46.41%when market involvement decreases.

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