Bitcoin Price Rebound Triggers Short-Term Profit-Taking Amid Limited Long-Term Holder Activity

The recent Bitcoin price rebound has shown that short-term holders are taking profit, but on-chain data suggests long-term holders aren't driving this profit-taking.

The SOPR (Spent Output Profit Ratio) ratio currently sits at 0.88, indicating that short-term holders are realizing relatively more profits than long-term holders.

This means the traders moving coins are mostly newer participants, and long-term holders remain relatively inactive.

The Adjusted SOPR (aSOPR), which takes into account profit realization between long-term and short-term holders, currently reads 1.02, meaning Bitcoin holders as a whole are still realizing profits.