Bitcoin aSOPR Rebounds From “1” As Weakness Remains In Market
Data shows the Bitcoin aSOPR has recently been rejected from the neutral level as weakness continues to clutch the market. Bitcoin aSOPR Rebounds From The “1” Mark As Investors Sell The Rally As per the latest weekly report from Glassnode, the “get my money back” effect strikes the crypto once again as weakness continues in the market. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the overall Bitcoin market is currently selling at a profit or at a loss. When the value of this metric is greater than one, it means....
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On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets. Bitcoin aSOPR Fails Retest Of The “Value=1” Line As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR has been rejected from the breakeven mark recently. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a loss or at a profit right now. The metric works by looking at the on-chain history of each coin being sold to see what price it was last moved at. If the....
On-chain data shows the Bitcoin aSOPR profit-loss junction has continued to act as resistance to the price of the crypto. Bitcoin aSOPR Bounces Back Down From The Breakeven Line As pointed out by an analyst in a CryptoQuant post, the aSOPR value equal to ‘1’ line has been acting as resistance for around 185 days now. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is greater than 1, it means the holders as a whole are....
The volatility of cryptocurrency and Bitcoin has continued to be a strong force determining its profitability and investment attraction. The severe crypto winter in the first half of 2022 several crippled tokens and crypto-related products and services. Also, the collapse of the Terra-LUNA ecosystem intensified the devastating impact. Though the second half of the year brought a little relief from the bearish experience, it did not last as long as many expected. Instead, the bears took over the market for the past two weeks as the prices of several crypto assets crumbled again. Bitcoin,....
Bitcoin has been in freefall recently, but this popular indicator is yet to reach the same highs as the last two cycles. Is the real top still ahead for the asset? Bitcoin aSOPR Has Been Consolidating For The Last Two Years As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin aSOPR has been consolidating between converging trendlines for nearly two years. The Spent Output Profit Ratio (SOPR) is an indicator that tells us whether the BTC investors are selling their coins at a profit or loss. Related Reading: USDC Floods Exchanges: Are Traders Buying The Bitcoin Crash?....
Data shows the crypto market has been deep into fear recently as the price of Bitcoin has struggled, but sentiment is still not inside extreme fear. Crypto Fear And Greed Index Shows Investors Are Fearful Right Now According to the latest weekly report from Arcane Research, the crypto market sentiment has remained stable in deep fear territory during the past week. The “fear and greed index” is an indicator that tells us about the general sentiment among investors in the crypto market. The metric uses a numeric scale that moves from zero to hundred for representing this....