According to Odaily Planet Daily, CryptoQuant analyst Axel Adler Jr pointed out that the high net UTXO supply ratio peaked at 0.96 on June 11 and fell to 0.806 within 48 hours. If this ratio continues to stay below 0.80 on a daily basis, it will form a classic 'buy signal', with the $102-105K range possibly becoming the basis for a new round of rebound. However, if the BTC price falls below $100,000, selling pressure may intensify again.
In terms of market dynamics: due to geopolitical tensions, crude oil and gold have risen as safe-haven assets; Israel's preemptive strike against Iran has led to a decline in the stock market; mainstream CEX liquidated $360 million in long positions in the past 24 hours.
