Bitcoin UTXO Loss Ratio Hits Record, Signals Capitulation Phase
The count of Bitcoin UTXOs spent at a loss has reached all-time highs, indicating the start of a holder capitulation phase, according to analyst Darkfost. The signal appeared for the first time since the October 2025 correction.
Analyst Darkfost reported that the number of Bitcoin UTXOs (unspent transaction outputs) spent at a loss has surged to peak levels, marking the onset of a capitulation phase among BTC holders. This signal was triggered for the first time since the market correction began in October 2025.
Darkfost noted that similar historical periods of capitulation have “always turned out profitable for long-term investors,” as they typically accumulate assets during these phases. Meanwhile, analyst Łukasz Wintra highlighted confirmation of a “bullish divergence” on Bitcoin’s RSI chart, adding a technical tailwind to the narrative.
The confluence of extreme loss realization and improving RSI momentum suggests the market may be nearing a local bottom, though broader conditions remain volatile.
Source: ForkLog