Bitcoin aSOPR Rebounds From “1” As Weakness Remains In Market
Data shows the Bitcoin aSOPR has recently been rejected from the neutral level as weakness continues to clutch the market. Bitcoin aSOPR Rebounds From The “1” Mark As Investors Sell The Rally As per the latest weekly report from Glassnode, the “get my money back” effect strikes the crypto once again as weakness continues in the market. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the overall Bitcoin market is currently selling at a profit or at a loss. When the value of this metric is greater than one, it means....
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The volatility of cryptocurrency and Bitcoin has continued to be a strong force determining its profitability and investment attraction. The severe crypto winter in the first half of 2022 several crippled tokens and crypto-related products and services. Also, the collapse of the Terra-LUNA ecosystem intensified the devastating impact. Though the second half of the year brought a little relief from the bearish experience, it did not last as long as many expected. Instead, the bears took over the market for the past two weeks as the prices of several crypto assets crumbled again. Bitcoin,....
On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets. Bitcoin aSOPR Fails Retest Of The “Value=1” Line As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR has been rejected from the breakeven mark recently. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a loss or at a profit right now. The metric works by looking at the on-chain history of each coin being sold to see what price it was last moved at. If the....
Data shows the crypto market has been deep into fear recently as the price of Bitcoin has struggled, but sentiment is still not inside extreme fear. Crypto Fear And Greed Index Shows Investors Are Fearful Right Now According to the latest weekly report from Arcane Research, the crypto market sentiment has remained stable in deep fear territory during the past week. The “fear and greed index” is an indicator that tells us about the general sentiment among investors in the crypto market. The metric uses a numeric scale that moves from zero to hundred for representing this....
On-chain data shows the Bitcoin aSOPR profit-loss junction has continued to act as resistance to the price of the crypto. Bitcoin aSOPR Bounces Back Down From The Breakeven Line As pointed out by an analyst in a CryptoQuant post, the aSOPR value equal to ‘1’ line has been acting as resistance for around 185 days now. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is greater than 1, it means the holders as a whole are....
Despite on-chain metrics indicating Bitcoin investors will soon face losses, Glassnode believes BTC is ready to bounce. A Jan. 25 report published by crypto data aggregator Glassnode has noted that Bitcoin’s adjusted Spent Output Profit Ratio, or aSOPR, suggests that a further decrease in prices will leave many investors in the red according to when their holdings last moved on-chain.Despite the metric suggesting few investors are sitting on paper-profits, Glassnode interprets the data as bullish, stating:“In order for SOPR to go lower, investors would have to be willing to sell at a loss,....