By Isaac • September 9, 2026 11:11 pm •
Bitcoin has spent three straight weeks doing something it had not managed at any other point in 2026: coins moving onchain have, in aggregate, continued to change hands at a profit.
That does not settle the bull-versus-bear argument. It does make the bearish case harder to state as confidently as it could be a month ago.
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According to a Cointelegraph review of CryptoQuant data, Bitcoin’s spent output profit ratio, better known as SOPR, has remained above its break-even level of 1 since August 19, reached three full weeks for the longest such run of 2026, and most recently registered 1.002 as coins moving onchain continued to realize a small aggregate profit. The report explained that readings
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