Bitcoin LTH SOPR prints 7 capitulations since Mar 11

Bitcoin long-term holders are spending coins at steep losses. RugaResearch sees repeated sub‑0.80 LTH SOPR readings since March 11.

What SOPR shows. Below 1 means coins are sold below cost. LTH at ~0.75 implies roughly 25% below cost basis. Source: RugaResearch on CryptoQuant.

Key prints, per CryptoQuant:

• 0.639 on Mar 11
• 0.723 on Mar 28
• 0.681 on Mar 30
• 0.753 on Apr 3

Seven sub‑0.80 events in total since Mar 11. CryptoQuant.

Market divergence builds. STH SOPR sits near 0.996, while LTH SOPR is deeply negative. The SOPR Ratio is 0.757. Flows to exchanges turned net positive over the last month. CryptoQuant.

What it can precede. RugaResearch notes sub‑1 LTH SOPR can signal weak conviction, but also precede major market structure shifts. The frequency of negative prints matters more than a single loss, and can resolve in deeper losses or a price floor. CryptoQuant.

Sentiment stays fragile. CoinCodex shows a strongly bearish backdrop, with the Fear & Greed Index at 11, and projects a rebound toward $72,284 within a month. CoinCodex.