Bitcoin STH SOPR Exceeds 1, Hinting Potential Trend Reversal

Bitcoin Price and On-Chain Metrics

  • Bitcoin remains stable around the $90,000 mark with minimal price movement in the past 24 hours.
  • The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) has risen above 1, indicating holders are selling at a profit, potentially signaling a market trend reversal.
  • This metric suggests a potential shift from bearish to bullish sentiment if sustained, though a fall back could indicate a fake-out.

Bitcoin

Market Activity and Influences

  • Bitcoin's current trading price is $90,590, with a slight increase of 0.13% in 24 hours.
  • Daily trading volume decreased by 66.41%, valued at $13.38 billion, indicating reduced market participation.
  • Federal Open Market Committee's rate cut odds have dropped significantly from 95% to 5%, influencing potential market reactions.
  • US regulatory developments show progress, with the Clarity Act moving forward, potentially boosting institutional and retail investment.

Bitcoin