Bitcoin Bull Run Not Over Yet? This Ratio Has Just Seen A Golden Cross
The Bitcoin SOPR Ratio, which measures profit-taking between short-term holders (STHs) and long-term holders (LTHs), has recently surged above its 90-day moving average, indicating a bullish trend. A SOPR value greater than 1 signifies that investors are selling at a profit. The current SOPR Ratio stands at 1.8, reflecting increased profit-taking by LTHs compared to STHs. Historically, such patterns have preceded bullish periods, as LTHs typically realize larger profits due to their lower cost basis from previous bear market lows. Although LTH profit-taking could pose risks, past data suggests that significant topping out occurs only when the ratio exceeds 7. Bitcoin is currently trading at approximately $68,200, having risen over 1% in the last 24 hours.
