On-chain data shows that the Bitcoin short-term holders have switched to loss-taking recently. Here’s what this could mean for the asset.
Bitcoin Short-Term Holder SOPR Has Dropped Below 1.0
In a new post on X, the on-chain analysis platform Checkonchain has talked about how the behavior of the Bitcoin short-term holders has changed recently. The indicator shared by Checkonchain is the Spent Output Profit Ratio (SOPR), which tells us about whether the BTC investors are selling/moving their coins at a profit or loss.
When the value of the metric is greater than 1, it means the holders as a whole are participating in profit-taking. On the other hand, it being under the mark suggests the market is realizing a net loss. In the context of
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