\t\t\t\t\t\t\t\t![](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/IMG-9126-scaled-e1677641698928-80x80.jpg\")
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Journalist<\/p>\n<\/p><\/div>\n
\t\t\t\t\t\t\t\tPosted: September 6, 2023 Over the last few days, <\/span>Bitcoin\u2019s [BTC]<\/span><\/a> movement has been sideways, with investors unsure about the king coin\u2019s next direction. This sentiment could be linked to the <\/span>happenings<\/span><\/a> over the past week when Grayscale won partially over the U.S. SEC. And in no time, the regulatory body decided to delay its spot Bitcoin ETF decision.<\/span><\/p>\n Is your portfolio green? Check out the <\/span>BTC Profit Calculator<\/span><\/a><\/p>\n However, there is a group that seemed unfazed by the current happenings and might be sticking to HODLing.\u00a0 According to on-chain analyst Tarekonchain, this was the 6-12 month UTXO Age Bands.<\/span><\/p>\n UTXO Age Bands is a set of all active supplies that were last moved within a specified age band. UTXO Age Bands\u2019 value that fit according to the age range represents the total value of UTXOs in existence, that were last moved within the denoted time period in native value.<\/span><\/p>\n The analyst who <\/span>published<\/span><\/a> his opinion on CryptoQuant noted that this cohort is unwilling to sell their holdings. This is because almost no part of this group is sending their assets into exchanges.\u00a0<\/span><\/p>\n Source: CryptoQuant<\/p>\n<\/div>\n At press time, the 6-12 UTXO Age Bands were still in profit and reluctant to sell because of their average buying price of $19,000. This indicated that most were in at least 16% profit. <\/span><\/p>\n When compared with other groups like the 1-3 months Age Bands and 12-18 months Age Bands, the 6-12 group seems to be the only one in gains.<\/span><\/p>\n From the chart shared below, others other than the 6-12 UTXO Age Bands have an average buying price between $26,000 and $29,000. Tarekonchain explained,\u00a0<\/span><\/p>\n \u201cUsing UTXO Age Bands indicator, we find that their average entry price is at approximately $19,100 per Bitcoin.\u201d<\/span><\/p>\n<\/blockquote>\n As a group that has a massive <\/span>impact<\/span><\/a> on the market direction with a solid presence, the 6-12 UTXO Age Bands\u2019 behavior is worth monitoring. So, as it stands, this cohort is <\/span>bullish<\/span><\/a> on BTC. And if the sentiment stays the same, BTC could stabilize and evade further downside.<\/span><\/p>\n
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\nGains turn into loyalty<\/b><\/h4>\n
![\"Bitcoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-08.03.58.png\")
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Bulls are not everywhere<\/b><\/h4>\n
![\"Bitcoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-08.09.42.png\")
![\"Bitcoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/glassnode-studio_bitcoin-stablecoin-supply-ratio-ssr-5.png\")