Bitcoin’s SOPR Approaches Critical Level Amid Ongoing Market Correction

Bitcoin's price is currently at $81,086, reflecting a 1.7% increase in the last 24 hours but a 2.3% decrease over the past week. This follows a decline from its all-time high in January.

Key points include:

Concerns among investors regarding potential recovery or prolonged consolidation phase.
Analyst Darkfost highlights a correlation between Bitcoin and the Nasdaq index, suggesting macroeconomic factors may influence BTC's performance.
CryptoQuant's Kripto Mevsimi analyzes the Short-Term Holder Spent Output Profit Ratio (SOPR), indicating a potential market consolidation as SOPR declines.
SOPR must stabilize around 1 to indicate a healthy market reset; dropping below 1 may suggest increased selling pressure.
Over the last 30 days, Bitcoin whales have accumulated over 65,000 BTC, indicating strong buying interest amid market correction.
This accumulation contrasts with typical behavior of miners and exchanges, which often sell to maintain liquidity.

If the current accumulation trend persists, it may resemble previous patterns that led to price increases.