Analyst: Bitcoin unlikely to return to bear market as loss-making UTXO ratio drops

CryptoQuant analyst Crypto Dan stated that the proportion of Bitcoin UTXOs in loss has significantly decreased, a trend historically associated with the transition from bear to bull cycles. While the Federal Reserve's interest rate hike and the stalling of the CLARITY Act may dampen short-term sentiment, the analyst believes these factors are insufficient to reverse the underlying on-chain structural changes. Meanwhile, analyst Darkfost noted that Bitcoin is currently consolidating between $71,300 and $79,800, with the Bull Index showing a recent decline in short-term demand.