Bitcoin net UTXO supply ratio triggers buy signal, bottom confirmation still needs to be observed

CryptoQuant analyst Axel Adler Jr. pointed out that the net UTXO supply ratio of Bitcoin entered the buying range for the first time since November 2022 and triggered a buying signal at the end of June to early July. To confirm the bottom, it is necessary to observe whether the ratio can stabilize at a positive value and the price can rise synchronously. The indicator of the proportion of loss supply shows that the fast moving average broke through 50% at the end of June, while the slow moving average is around 40%. It takes about 7 to 8 weeks for the slow moving average to reach the 50% threshold.