Bitcoin Holders Resist Selling as Price Surges 47%

Bitcoin's recent surge of 47% over the past 24 hours has not triggered a significant increase in profit-taking among holders, according to on-chain data from Bitfinex. The adjusted Spent Output Profit Ratio (aSOPR) is currently at 1.01, indicating that investors are realizing modest profits after the price hike.

This metric tracks whether Bitcoin moved on-chain is being spent at a profit or loss. A reading above 1 indicates selling or transferring coins at a profit on average, while a figure below 1 points to realized losses.

The muted profit-taking stands out compared with Bitcoin's previous breakout in August when aSOPR climbed to around 1.04. This time, BTC has recorded a much stronger price advance without triggering a similar increase in realized profits.