Bitcoin STH-SOPR Drops Below 1.0 Indicating Short-Term Holder Losses

Bitcoin is experiencing short-term weakness as indicated by the Short-Term Holder Spent Output Profit Ratio (STH-SOPR), which has dropped to 0.992, its lowest since April. This metric shows that holders who have owned Bitcoin for less than 155 days are selling at a loss, suggesting increased market fear and capitulation among newer investors.

The STH-SOPR below 1.0 signifies an average loss of 0.8%, reflecting a significant sentiment shift.
This phase often precedes market stabilization as weaker hands exit and long-term investors absorb supply.

Market Outlook

Bitcoin’s current trading price is approximately $109,400, facing resistance near $112,000–$114,000.
The 50-day and 100-day moving averages act as resistance, while $106,000 provides short-term support.
A breakout above $112,000 could lead to a rise toward $117,500 and potentially $123,000.
If support at $106,000–$107,000 fails, BTC may target $102,000 or $98,000.

Overall, while short-term indicators show weakness, this period may set the stage for a future uptrend once capitulation peaks and market conditions stabilize.