Bitcoin’s $115K Struggle: Is a Deeper Drop on the Horizon?

Bitcoin

Bitcoins $115K Struggle: Is a Deeper Drop on the Horizon？

Bitcoin (BTC) is facing renewed downward pressure as it struggles to maintain levels above $115,000. At the time of writing, the cryptocurrency is trading around $115,745, down approximately 2.2% in the past 24 hours and nearly 6% below its July all-time high of $123,000.

The latest market movement has raised questions about short-term price stability, particularly amid growing concerns over weak structural support in the current trading zone.

Recent data from on-chain analytics platform CryptoQuant suggests that while long-term holders remain largely profitable, short-term sentiment has shifted.

Bitcoin UTXO Data Points to Changing Investor Behavior

Activity among Bitcoin Unspent Transaction Outputs (UTXOs), a metric that tracks coins being spent either in profit or at a loss, indicates that many investors are beginning to react to smaller price drops, potentially signaling increased market uncertainty.

In a recent analysis on CryptoQuants QuickTake platform, contributor Darkfost shared insights on how UTXO activity can reflect broader market sentiment.

“This chart, based on UTXOs from block data, highlights the number of UTXOs spent either in profit or in loss,” the analyst wrote, noting that this approach focuses on transaction count rather than value, helping filter out price-based noise.

Featured image created with DALL-E, Chart from TradingView