Express
Opinion: Bitcoin Selling Pressure Approaching End, Formation of Short-term Bottom Underway
Summary: According to CryptoOnchain analysis, the SOPR ratio of Bitcoin (LTH-SOPR / STH-SOPR) has dropped to 1.35, the lowest level since 2024, with the coin price falling to around $89,700. 1. End of Massive Selling Pressure: When the SOPR ratio is high, it means long-term holders (LTH) are taking profits more forcefully compared to short-term holders ...
According to CryptoOnchain analysis, the SOPR ratio of Bitcoin (LTH-SOPR / STH-SOPR) has dropped to 1.35, the lowest level since 2024, with the coin price falling to around $89,700.
1. End of Massive Selling Pressure: When the SOPR ratio is high, it means long-term holders (LTH) are taking profits more forcefully compared to short-term holders (STH). The ratio now dropping to 1.35 indicates that the phase of massive distribution of old coins has significantly subsided, narrowing the profit gap between old players and new funds.
2. Market Sentiment Cooling Down: The SOPR ratio is often used as an oscillation indicator of market sentiment. This drop signifies a thorough reset in the market, clearing out the early speculative bubble. Historical data shows that in macro bull markets, a drop in the SOPR ratio to these low ranges often indicates that selling pressure is nearing its end. If the indicator stabilizes or rises near 1.35, it may suggest the formation of a short-term bottom, providing a healthier foundation for the next uptrend.
Tags:
Link: Opinion: Bitcoin Selling Pressure Approaching End, Formation of Short-term Bottom Underway [Copy]
