• About Us
  • Privacy Policy
  • info@cryptonews24.co.uk
  • Saturday, August 20, 2022
    CryptoNews24
    Advertisement
    • Crypto News
      • Bitcoin
      • Ethereum
      • Ripple
    • Crypto Games
    • Blockchain
    • Finance
    • Fintech
    • Regulation
    • Blog
    No Result
    View All Result
    • Crypto News
      • Bitcoin
      • Ethereum
      • Ripple
    • Crypto Games
    • Blockchain
    • Finance
    • Fintech
    • Regulation
    • Blog
    No Result
    View All Result
    CryptoNews24
    No Result
    View All Result

    SOPR Shows Bitcoin Holders Continue To Sell At A Loss, Similar To May-June 2021

    January 11, 2022
    in Bitcoin
    Reading Time: 3min read
    A A
    SOPR Shows Bitcoin Holders Continue To Sell At A Loss, Similar To May-June 2021
    0
    SHARES
    28
    VIEWS
    ShareShareShareShareShare

    The on-chain indicator SOPR suggests that Bitcoin holders have continued to sell at a loss for a while now. This behavior is similar to what was seen during the May-June 2021 mini-bear period.

    Bitcoin Investors Have Continued To Dump At A Loss For A Month Now

    As pointed out by an analyst in a CryptoQuant post, the BTC SOPR shows that holders are currently selling at a loss.

    The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether coins moved on a given day were sold at a profit or a loss.

    The metric measures so by looking at each coin on the chain and checking what the price the coin was last moved at. After that, the indicator calculates the ratio between this price and the current price.

    When the value of the indicator is above one, it means that holders are currently selling, on an average, at a profit.

    On the other hand, when the SOPR has values less than one, it implies investors are moving their Bitcoin at a loss overall.

    Finally, there is the case when the value of the indicator is exactly equal to one. During such a period, the market is breaking even on BTC sales.

    Related Reading | Is The Bitcoin Hashrate Recovering From Kazakhstan’s Crisis? Fear Abides

    Now, here is a chart that shows the trend in the value of the Bitcoin SOPR over the past year:

    Looks like the value of the indicator has stayed below one recently | Source: CryptoQuant

    As you can see in the above graph, the Bitcoin SOPR currently has a value less than one, which means holders are selling at a loss.

    Related Reading | Bitcoin Open Interest Continues To Rise, Short Squeeze Incoming?

    Such a trend has been there for a month now. A similar situation was there after the May 2021 crash where the indicator stayed below one for a prolonged period of time.

    It’s possible that the current trend of low SOPR values will continue for a while, just like back then. The period around May-June was marked by a mini-bear market, and so if the trend does repeat, a similar bear environment could follow in the near future.

    BTC Price

    Yesterday, Bitcoin’s price briefly declined below the $40k mark, but since then has jumped back up. At the time of writing, the price of the coin floats around $41.7k, down 10% in the last seven days. Over the past month, the crypto has lost 13% in value.

    The below chart shows the trend in the price of BTC over the last five days.

    Bitcoin Price Chart

    BTC's price has continued to move sideways above $40k in the last few days | Source: BTCUSD on TradingView
    Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

    Credit: Source link

    ShareTweetSendSharePin
    Previous Post

    How to Use Layer-2 Solutions to Save on Ethereum Fees: Arbitrum

    Next Post

    Fed Chair Powell says rate hikes, tighter policy will be needed to control inflation

    Related Posts

    Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges – Regulation Bitcoin News
    Bitcoin

    Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges – Regulation Bitcoin News

    August 20, 2022
    Investor Sentiment Falls As Crypto Market Sheds $100 Billion
    Bitcoin

    Investor Sentiment Falls As Crypto Market Sheds $100 Billion

    August 19, 2022
    Value Locked in Defi Loses $5.7 Billion in 5 Days, Smart Contract Tokens Shed 7.8% in 24 Hours – Defi Bitcoin News
    Bitcoin

    Value Locked in Defi Loses $5.7 Billion in 5 Days, Smart Contract Tokens Shed 7.8% in 24 Hours – Defi Bitcoin News

    August 19, 2022
    Ethereum (ETH) Dips Consecutively And Falls Below $1,800
    Bitcoin

    Ethereum (ETH) Dips Consecutively And Falls Below $1,800

    August 19, 2022
    Load More
    Next Post
    Fed Chair Powell says rate hikes, tighter policy will be needed to control inflation

    Fed Chair Powell says rate hikes, tighter policy will be needed to control inflation

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Premium Content

    Cisco, BJ’s Wholesale, Bed Bath & Beyond, Kohl’s and more

    Cisco, BJ’s Wholesale, Bed Bath & Beyond, Kohl’s and more

    August 18, 2022
    Kohl’s, BJ’s Wholesale, Estee Lauder and more

    Kohl’s, BJ’s Wholesale, Estee Lauder and more

    August 18, 2022
    Aave Asks The Community To Commit To Ethereum PoS Chain

    Aave Asks The Community To Commit To Ethereum PoS Chain

    August 17, 2022
    Canadian Pension Fund Writes Off $150M Celsius Loss, Believes They Entered Crypto “Too Soon”

    Canadian Pension Fund Writes Off $150M Celsius Loss, Believes They Entered Crypto “Too Soon”

    August 18, 2022
    5 Best NFT Games to Invest in 2022

    5 Best NFT Games to Invest in 2022

    August 16, 2022

    Welcome to cryptonews24, the number one source of news and information in the cryptocurrency sphere
    We have taken our time to bring together the most reliable and the most sought after source of news and information in the crypto sphere. From Startups, Fintechs,Sports,Health,Wealth,ICos, IEos,Exchanges, Wallets, to all other happenings in the crypto world.
    Subscribe to our telegram and twitter channel for minute by minute updates.
    Please contact us for your reviews, articles, marketing and any other cryptocurrency and blockchain related events

    What's New Here

    Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges – Regulation Bitcoin News

    Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges – Regulation Bitcoin News

    August 20, 2022
    Warren Buffett gets permission to buy up to half of Occidental Petroleum, boosting the shares

    Warren Buffett gets permission to buy up to half of Occidental Petroleum, boosting the shares

    August 20, 2022

    Subscribe Now

    Loading

    © 2020 cryptonews24.co.uk - All rights reserved!

    No Result
    View All Result
    • Crypto News
      • Bitcoin
      • Ethereum
      • Ripple
    • Crypto Games
    • Blockchain
    • Finance
    • Fintech
    • Regulation
    • Blog

    © 2020 cryptonews24.co.uk - All rights reserved!

    • YAMYAM(YAM)$1.40-98.56%
    • YAM v2YAM v2(YAMV2)$4.70-1.41%
    • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
    • lympoLympo(LYM)$0.004392-4.43%
    • RelevantRelevant(REL)$0.791.67%
    • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
    • B20B20(B20)$0.4507925.62%
    • BitballBitball(BTB)$0.0019770.37%
    • CornichonCornichon(CORN)$0.073096-0.86%
    • MoonToolsMoonTools(MOONS)$13.810.00%