Bitcoin Holds Key Support as UTXO Growth Hits Record Levels

TLDR: Bitcoin tests the 200-week moving average near $61K, a level tied to previous cycle bottoms UTXO count surpasses 3.77B created since Bitcoin launch, showing rising network activity Market structure weakens as 50-week moving average is lost and macro tightening persists Bear case points to $53.6K realized price and deeper mid-$40K range if support fails [...]

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