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Chart of the Day

The Great Wall of Volume: The price of BTC once again flirted with its previous all-time high, briefly revisiting the $58k level on March 11, 11:00PM UTC, before correcting in the lower $57k region. There has been solid on-chain support as well, as evidenced by the UTXO realized price distribution chart, which presents the volume of coins being bought at each price level. A local maximum exists around $46k-$48k, showing that strong hands came in to buy the latest dip, while heavily validating the price of BTC at that level and above. The current momentum will likely drive the price towards $60k, although the question remains — when exactly?

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