Data shows Bitcoin long-term holders have realized a significant amount of losses recently, a sign that the final capitulation before the bottom may be here. Bitcoin Long-Term Holder SOPR Shows Average of 27% Losses Being Realized This Week According to the latest weekly report from Glassnode, BTC long-term holders seem to have harvested some losses this week. The “spent output profit ratio” (or the SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a profit or a loss right now. The metric works by looking at the on-chain history of each coin being sold to see what price it last moved at. If this price was less than the current one, then the coin has been sold at a profit. On the other hand, the last selling price being more than the latest would imply the sale of the coin has realized a loss. When Bitcoin SOPR values are greater than one, it means coins moving right now are, on average, selling at a profit. Related Reading | Bitcoin On-Chain Data Signals A Long Squeeze Brewing In Futures Market While the value of the indicator being less than one suggests the overall market is selling at a loss at the moment. Naturally, the ratio being exactly equal to 1 signifies that investors are breaking even on average. Now, here is a chart that shows the trend in the Bitcoin SOPR for long-term holders, a cohort that holds their coins for at least 155 days before selling. Looks like the...
North Carolina Eyes Crypto for Pension Funds
