Bitcoin Overheating Signal Triggers Correction Fears
Bitcoin's short-term holder SOPR has surged to about 1.03, according to CryptoQuant contributor MAC.D.
This level previously preceded short-term corrections in earlier bullish phases of Bitcoin.
MAC.D notes that investors should be cautious and consider the risk of an overheating-driven correction.
Instead of chasing Bitcoin at current prices, investors may want to wait until STH SOPR falls back below 1 and especially below 0.99 for a more attractive buying opportunity.