Bitcoin SOPR Indicator Sees Steady Decline Even As BTC’s Price Rallies – Here...
Bitcoin’s price has displayed remarkable resilience as the largest crypto asset holds strong above the $100,000 milestone despite several pullback attempts. During the robust bullish performance of BTC in the past few weeks, on-chain data shows that the SOPR indicator has been dropping sharply. Key Bitcoin SOPR Indicator Dips Sharply As Bitcoin continues to show […]
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Bitcoin has continued its rally breaking above $42k today, making many wonder whether $33k was the bottom. Here’s what the SOPR data says about it. Bitcoin Short-Term Holder SOPR Starts Turning Green Again As explained by an analyst in a CryptoQuant post, the current BTC SOPR pattern may look similar to that around the bottom formation back in July of last year. The “Spent Output Profit Ratio” (or SOPR in short) is an on-chain indicator that tells us whether investors are currently selling at a profit or at a loss. The metric works by checking the history of each coin....
Bitcoin price has now declined to $56k; does that mean a top is in? Or is this just a shakeout? Here’s what the SOPR indicator says about it. The Bitcoin SOPR Indicator The BTC Spent Output Profit Ratio (or SOPR in short) is an on-chain indicator that estimates whether investors are selling at a profit or a loss. When the metric’s value is above one, it means coins that were moved during the period were sold, on an average, at a profit. While SOPR values less than one imply the overall market has been selling at a loss during the particular timescale. If the indicator starts....
The on-chain indicator SOPR suggests that Bitcoin holders have continued to sell at a loss for a while now. This behavior is similar to what was seen during the May-June 2021 mini-bear period. Bitcoin Investors Have Continued To Dump At A Loss For A Month Now As pointed out by an analyst in a CryptoQuant post, the BTC SOPR shows that holders are currently selling at a loss. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether coins moved on a given day were sold at a profit or a loss. The metric measures so by looking at each coin on the....
The Bitcoin STH-SOPR (EMA-30) has now returned above a value of one for the first time in four months, a sign that could prove to be bullish for the price of the crypto. Bitcoin Short-Term Holder SOPR Has Broken Above 1 Recently As pointed out by an analyst in a CryptoQuant post, the BTC STH-SOPR is currently forming a pattern that has historically been bullish for the coin. The “Spent Output Profit Ratio” (or the SOPR in short) is a Bitcoin indicator that tells us whether coins in the market are selling at a profit or at a loss right now. The metric works by looking at the....
According to on-chain data, current Bitcoin SOPR trend suggests the market may be nowhere near the price bottom. Bitcoin SOPR Still Some Distance Above The “One” Level As pointed out by an analyst in a CryptoQuant post, the BTC SOPR hints there may be some ways to go still before a bottom forms. The “spent output profit ratio” (or SOPR in brief) is an indicator that tells us whether investors are selling at a profit or a loss right now. The metric works by evaluating the history of each coin on the chain to see which price it was last moved at. If this price was....