Bitcoin UTXOs (unspent transaction outputs) in an unrealized-profit state moved at a record scale on Binance, according to Moreno DV, a registered analyst at on-chain analytics firm CryptoQuant. The activity points to the largest observed profit-taking event on the exchange. UTXO movements can help gauge market participants' unrealized gains or losses by tracking how previously received Bitcoin transaction units are transferred. The analysis was also framed against expanding buybacks of long-term U.S. Treasury bonds as a potential tailwind.