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Analysis: Bitcoin indicators show profit-taking phase fading, selling pressure nearing exhaustion
Summary: According to CryptoOnchain, the Bitcoin SOPR ratio has dropped to 1.35, the lowest level since early 2024. With Bitcoin pulling back to $89,700, this indicator indicates that the market's profit-taking phase has been fully reset. The significant profit-taking phase of long-term holders is fading, indicating that selling pressure is nearing exhaustion. Historical data shows that ...
According to CryptoOnchain, the Bitcoin SOPR ratio has dropped to 1.35, the lowest level since early 2024. With Bitcoin pulling back to $89,700, this indicator indicates that the market's profit-taking phase has been fully reset. The significant profit-taking phase of long-term holders is fading, indicating that selling pressure is nearing exhaustion.
Historical data shows that when the market cools down, a drop in the SOPR ratio to this level often signals a local bottom forming. If a trend reversal occurs at this point, it may lay the foundation for the next healthy uptrend. Note: Bitcoin SOPR Ratio is an advanced indicator in cryptocurrency on-chain analysis, derived from the Spent Output Profit Ratio (SOPR), mainly used to determine whether the market is profit-driven or loss-driven, assisting in assessing the stage of the bull/bear cycle.
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