In the last year, the most widely used cryptocurrency has seen its value grow by over 100%, hitting an all-time high of $343,750 on March 12, 2024. If a group of positive analysts and promising market signals are correct, then Bitcoin’s rapid rise may not be finished. JPMorgan has compared cryptocurrency to smoking cigarettes. Revealing the Cryptic Code Embedded in Bitcoin’s Blockchain. In contrast to the conventional financial system which is dependent on central banks and economic indicators, the world of cryptocurrency functions based on alternative metrics. In this case, on-chain information, which monitors how Bitcoin is being transferred on its blockchain network, provides useful information about the state and direction of the cryptocurrency. Meet Axel, a respected on-chain expert, who has discovered a particular metric – the UTXO Profit/Loss (P/L) Supply Ratio Momentum – that seems to be encouraging the optimism of investors. The intricate metric evaluates the profitability of short-term and long-term Bitcoin holders by examining transaction data on the blockchain. Notably, Axel noted that there have been only two previous occasions in Bitcoin’s history where this metric experienced a significant increase, and on both of those occasions, it was followed by substantial price surges. Is it possible that a comparable situation is currently playing out? Analysts are cautiously optimistic that another price surge could be on the horizon, as the UTXO P/L Supply Ratio Momentum appears to be increasing. Influential figures are also discussing the potential for significant gains in the Bitcoin market.