Analyst: Bitcoin UTXO profit-loss ratio falls into historical bottom range, but bottom not yet fully confirmed

CoinFeed June 29 news, CryptoQuant analyst MorenoDV_ posted that the Bitcoin UTXO block profit-loss count ratio model has shown its first bottom signal. The indicator measures the ratio of the number of UTXO blocks in profit to those in loss - when the ratio is high, the market still holds a large amount of unrealized profits, implying higher distribution risk; when the ratio drops to a low level, profits narrow and losses expand, and the market enters a deeper reset phase. Currently, the ratio has fallen to a range that historically appeared during bottoming processes, but this does not mean the bottom is confirmed. Moreno pointed out that a stronger bottoming signal would require a more significant decline in the 365-day moving average to confirm that the long-term profit structure is being truly reset rather than just a short-term oversold condition. Short squeezes and temporary rebounds may still occur, especially when leveraged shorts are overcrowded, but these rebounds should not be confused with a structural recovery.