Bitcoin profit metric eyes 2-year lows in 'complete reset:' BTC analysis
A key Bitcoin profit metric is nearing two-year lows, signaling a market reset as long-term holders stop selling.Summary
New research from CryptoQuant indicates that Bitcoin has undergone a "complete reset" of sell pressure following its drop below $90,000. A derivative of the Spent Output Profit Ratio (SOPR), specifically the Bitcoin SOPR Ratio (LTH-SOPR / STH-SOPR), has hit 1.35, its lowest level since early 2024. This decline signifies that long-term holders (LTHs, holding BTC for over 155 days) have abandoned heavy distribution, while short-term holders (STHs) are now responsible for most in-profit transactions. This suggests the speculative froth that characterized earlier cycle highs has been flushed out, leading to a market cool-down. Simultaneously, short-term speculators have shown erratic behavior in response to recent price drawdowns.
(Source：Cointelegraph)