Bitcoin Short-Term Holder SOPR Drops Below 1 Indicating Loss-Taking
Recent on-chain data indicates that Bitcoin short-term holders are now taking losses. The key metric, the Spent Output Profit Ratio (SOPR), has dropped below 1.0, signaling a shift in selling behavior among this group.
Key Points
- Short-term holders (STHs) include those who bought BTC within the last 155 days.
- SOPR above 1 indicates profit-taking; below 1 shows net losses.
- The current SOPR for STHs is at 0.99, suggesting capitulation among some recent buyers.
- Capitulation events have historically led to bottom formations in the market.
- Bitcoin's price recently increased to $116,400 after a decline.
