Bitcoin Bullish Signal: 30MA STH-SOPR Returns Above 1 After 4 Months
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....
Related News
On-chain data shows the Bitcoin monthly outflows have recently reached values only seen a few times before in the crypto’s entire history. Bitcoin Exchange Outflows Now Have A Value Of 96.2k BTC Per Month According to the latest weekly report from Glassnode, a historically high amount of BTC has exited all exchange wallets recently. The relevant indicator here is the “exchange net position change,” which tells us the net amount of Bitcoin exiting or entering wallets of all exchanges. The metric’s value is simply calculated by taking the difference between the....
On-chain data shows that Bitcoin short-term holders have now started to realize significant losses. This could prove to be a bearish signal for the crypto. Bitcoin Short-Term Holders Are Taking Significant Losses As pointed out by an analyst in a CryptoQuant post, the BTC market is now looking at significant losses being realized. This trend may be reminiscent of the May 2021 crash. The relevant indicator here is the Spent Output Profit Ratio (SOPR), which is an on-chain metric. The SOPR measures the profit ratio of the overall market to check whether investors are, on an average, in....
As Bitcoin's price shows new signs of bullish momentum, data from various on-chain indicators suggests that the current sell-off is reaching an end. Bitcoin has entered a consolidation phase following its May 19 crash from $42,600 to $30,000 on Coinbase. The flagship cryptocurrency recovered its losses quickly and reclaimed $40,000, but it failed to log a clear bullish breakout above this resistance level, and at the time of writing, the price remains pinned below $40,000.The latest price action in the Bitcoin (BTC) market has been, at best, choppy, with traders showing no clear indication....
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....
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....