Bitcoin SOPR Falls to Lowest Since Early 2024, Signals Potential Rebound

The recent bearish trend has pushed Bitcoin below the psychological $90,000 level. However, on-chain data suggests a potential upward move.

BTC SOPR Analysis

  • Bitcoin's Spent Output Profit Ratio (SOPR) has dropped to 1.35, its lowest since early 2024.
  • An SOPR less than 1 indicates selling at a loss, while above 1 denotes profit-taking.
  • The current SOPR suggests a market profitability reset as Bitcoin's price fell below $90,000.
  • Long-term holders' selling pressure appears to be waning, indicating exhaustion among bears.
  • A low SOPR historically signals a local bottom, potentially preceding an upward rally.

Current Bitcoin Price

  • Bitcoin is currently priced at approximately $89,500, with no significant 24-hour change.
  • It has decreased by nearly 2% over the last seven days.
  • The cryptocurrency is down about 5% year-to-date and 30% from its all-time high of $126,080.
  • Without a shift in market momentum, Bitcoin might end 2025 in decline.

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