An analyst has explained how $47,360 could be the next target for Bitcoin if the cryptocurrency can clear the $38,500 resistance wall.
Bitcoin URPD Suggests $47,360 Holds Next Major Resistance After $38,500
In a new post on X, analyst Ali talked about what the levels ahead of BTC are looking like right now in terms of the on-chain resistance. The indicator of interest here is the “UTXO Realized Price Distribution” (URPD), which tells us about the amount of coins (or more precisely, the UTXOs) that were last acquired at the various levels that the cryptocurrency has visited in its history.
Generally, the levels that host the cost basis of a significant number of investors can be important levels for Bitcoin, due to how investor psychology tends to work.
To any holder, their acquisition price is naturally a level that’s important, so whenever the price retests that point, they may become more prone to make some sort of move. How they may react to the retest may depend on what their

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