Bitcoin's 'Old Money' Sells at Loss, Signaling Market Bottom

A recent on-chain signal suggests that Bitcoin's prolonged decline may be nearing its end. According to CryptoQuant, even large investors who have held their coins for years are now selling at a loss en masse.

The SOPR Ratio, which measures the profitability of long-term holders relative to short-term holders, has fallen below 1.0. In previous market cycles, this has marked the final stage of clearing speculators from the market and the formation of a global macro bottom.

CryptoQuant analysts emphasize that periods in which even mid- to long-term investors keep selling Bitcoin at a loss have historically been excellent entry points. The current situation is unique because the capitulation of large investors is occurring just as market participants' interest hits rock bottom.