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  <p class="is-style-lead">Data provided by CryptoQuant and Glassnode shows that long-term bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) investors may drive prices even higher in the coming days or weeks.</p> 
  <p>According to the market analytics platform CryptoQuant, 1,000 to 10,000 BTC unspent transaction output (UTXO) Value Bands have been gradually rising since December 2022. </p> 
  <p>Expanding bitcoin’s UTXO value along with firm prices might suggest that 2022 was a long-term bottom.</p> 
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     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> 1K-10K UTXO Value Bands are slowly waking up<br><br>Quicktake Post by <a href="https://twitter.com/SignalQuant?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SignalQuant</a> <br><br>Thread🧵 <a href="https://t.co/C98gnjlPrF" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/C98gnjlPrF</a></p>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1680802092250955776?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 17, 2023</a> 
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  <p>A UTXO is the leftover of a crypto transaction that outlines the behavior of investors, especially whales. According to CryptoQuant, “1K-10K UTXO Value Bands are known to be the most trendy indicator according to its price.”&nbsp;</p> 
  <p> You might also like: <a href="https://crypto.news/xrp-ruling-triggers-crypto-rally-sec-accepts-bitcoin-etfs-binances-woes-mount-weekly-recap/" rel="noopener noreferrer nofollow"> XRP ruling triggers crypto rally, SEC accepts bitcoin ETFs, Binance’s woes mount | Weekly recap </a> </p> 
  <p>Moreover, the upsurge in the 1,000 to 10,000 BTC UTXO Value Bands in 2023 is quite similar to 2019, when the bitcoin price swung from $4,000, reaching to as high as $61,500 in April 2021. The rally preceded a fall when asset prices, including bitcoin’s, crashed in 2022.</p> 
  <p>Glassnode data shows that the number of coins held in self-custody or lost wallets is at 7,781,224 BTC, marking a five-year high.&nbsp;</p> 
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     <p lang="en" dir="ltr">📈 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> Amount of HODLed or Lost Coins just reached a 5-year high of 7,781,224.168 BTC<br><br>View metric:<a href="https://t.co/dJK8rxBVD3" target="_blank" rel="noopener noreferrer nofollow">https://t.co/dJK8rxBVD3</a> <a href="https://t.co/nF9KjaR2jv" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/nF9KjaR2jv</a></p>— glassnode alerts (@glassnodealerts) <a href="https://twitter.com/glassnodealerts/status/1680823505976279041?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 17, 2023</a> 
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  <p>This development comes as the crypto scene was rejuvenated by the recent judgement that saw Ripple <a href="https://crypto.news/xrp-is-not-a-security-us-judge-rules/" rel="noopener noreferrer nofollow">win</a> against the US Securities and Exchange Commission (SEC) and the regulator finally <a href="https://crypto.news/sec-accepts-bitcoin-etf-applications-from-blackrock-fidelity-galaxy-digital/" rel="noopener noreferrer nofollow">accepting</a> recent spot BTC ETF applications.</p> 
  <p>Bitcoin has been consolidating between $30,200 and $30,400 over the past two days and is down by 0.05% in the last 24 hours. The coin is trading at $30,275 at the time of writing with rising 24-hour trading volume — up by 2.22% to $8.2 billion.</p> 
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   <img decoding="async" width="1024" height="548" src="https://crypto.news/app/uploads/2023/07/BTC-price-July-17-1024x548.png" alt="Long-term bitcoin indicators suggest a slow but steady rise ahead - 1" class="wp-image-14178745"> 
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     BTC price – July 17 | Source: Trading View 
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  <p>However, the asset is still down by 4.83% from its local top of $31,814 registered on July 13.&nbsp;</p> 
  <p> Read more: <a href="https://crypto.news/cbdcs-can-restrict-citizens-spending-economist-warns/" rel="noopener noreferrer nofollow"> CBDCs can restrict citizens’ spending, economist warns </a> </p>
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Long-term bitcoin indicators suggest a slow but steady rise ahead

crypto.news

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