On-chain data shows a Bitcoin indicator has been forming a bearish divergence for a while now, a sign that the top may be close for the asset.
Bitcoin Short-Term Holder SOPR Has Been Moving Opposite To Price Recently
As an analyst in a CryptoQuant Quicktake post, a bearish divergence has been brewing in the Bitcoin short-term holder SOPR recently. The “Spent Output Profit Ratio” (SOPR) indicates whether Bitcoin investors are selling at a profit or at a loss right now.
When the value of this metric is less than 1, it means that the average holder in the sector is transferring their coins on the blockchain at a net amount of loss currently. On the other hand, values under the threshold imply profit-taking is the dominant form of selling among the investors.
The SOPR being equal to 1 suggests the amount of profits being harvested are precisely canceling out the losses in the market, so the holders could be imagined to be just breaking even on their selling.
This indicator can also be
We współpracy z: https://bitcoinist.com/bitcoin-metric-forms-bearish-divergence-top-here/
