Will The Bitcoin Short-Term Holder Breakeven Point Act As Resistance Again?

Will The Bitcoin Short-Term Holder Breakeven Point Act As Resistance Again?


On-chain data shows the Bitcoin short-term holder SOPR is approaching the “breakeven” value, a point that has acted as resistance for the crypto’s price in the past.

Bitcoin Short-Term Holder SOPR Surges Up And Approaches A Value Of “1”

As pointed out by an analyst in a CryptoQuant post, the selling pressure from the short-term holders may see an increase if their SOPR keeps rising up.

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The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the Bitcoin market as a whole is currently selling at a profit or at a loss.

The metric works by going through the on-chain history of each coin being sold to see what price it sold at before this. If the previous value

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