On-chain data indicates that Bitcoin had retested a historically relevant line right before the latest recovery had come.
Bitcoin Adjusted SOPR Retested The 1.0 Level Prior To Recovery
When Bitcoin was declining, the cryptocurrency had dropped to a low of $60,600, which appears to have been the bottom, at least so far, given that the coin has rebounded sharply since hitting the mark.
Around the time of BTC’s recent low prices, an analyst had pointed out in a CryptoQuant Quicktake post that the Adjusted Spent Output Profit Ratio (aSOPR) had plunged to a value of 1 alongside the asset’s drop.
The aSOPR is an on-chain indicator that tells us whether Bitcoin investors realize a net profit or loss with their current selling.
This metric works by going through the blockchain history of each coin being transferred currently to check what price it was moved at before this. If the last price was greater than the current price, the coin’s sale would realize a loss; otherwise,
We współpracy z: https://bitcoinist.com/bitcoin-on-chain-metric-predict-recovery-in-advance/
