Bitcoin Supply Metric Flashes First Buy Signal Since Late 2022

The Advanced Net UTXO Supply Ratio tracks whether Bitcoin’s unspent transaction outputs (UTXOs) are in profit or loss, helping investors assess market cycles. A move below zero typically signals mounting selling pressure and a potential accumulation zone. The indicator’s first such signal in nearly four years has therefore drawn market attention.

The latest analysis shows that the supply ratio has fallen into negative territory, triggering its first buy signal since November 2022. The report did not identify a specific institution or disclose the exact ratio or any monetary amount. Analysts cautioned, however, that the supply in loss remains relatively low and spot demand is insufficient. Bitcoin has yet to confirm a price bottom and still faces near-term downside risk.