Crypto
Bitcoin's SOPR Breaks Out of Lull, Hints at Market Cycle Reversal
Bitcoin's Spent Output Profit Ratio (SOPR) has broken out of an 11-month suppressed state, signaling a potential shift in the market cycle.
This pattern resembles early 2023, which preceded a major Bitcoin rally. The short-term holder SOPR has bounced above 1.0 after dips below 0.95, aligning with price recoveries.
However, long-term holders remain neutral, indicating no panic selling. Additionally, Bitcoin ETF inflows are adding steady demand, tightening supply and supporting prices.