Bitcoin SOPR Remains Above 1.0 for Three Consecutive Weeks
Bitcoin's entity-adjusted Spent Output Profit Ratio (SOPR) has remained above 1.0 for three consecutive weeks, indicating that holders are selling at a profit and the market is absorbing every coin without flinching.
The current SOPR reading of approximately 1.008 means that the average coin being moved on-chain is being sold for more than it was originally acquired for, according to Glassnode's entity-adjusted version of the metric.
This streak began on August 19, 2026, and is the longest such stretch this year, suggesting a shift in the demand-supply balance. Historically, sustained SOPR readings below 1.0 have coincided with capitulation events and prolonged downtrends.
David Puell from ARK Invest has offered a measured take on the current metrics, cautioning that a definitive market regime shift may require further confirmation. He notes that three weeks of profitability is encouraging, but three months would be convincing.