CryptoQuant Analyst: Bitcoin Breaks Out of the Bottom Consolidation Range, and a New Uptrend Is Being Set in Motion
On September 15, according to CryptoQuant analyst CW8900’s latest remarks, Bitcoin is breaking out of the bottom range and is starting a new rebound phase.
On-chain data shows that the Spend Output Profit Ratio (SOPR) of long-term holders (LTH) has risen to above 1, indicating that the market is shifting from a bearish phase to a neutral state, and a full uptrend is already underway.
The analyst specifically emphasized that during this cycle, SOPR has not yet broken above 6, while historical cycle peak values are typically formed within that range. However, in the current cycle, there has not yet been a stage where long-term holders take profits, meaning a true bull market has not arrived.
CW8900 noted that the market’s previous movements were essentially preparing for the current round of price increase. Data shows that the amount of Bitcoin held by long-term holders has reached an all-time high, and these investors have been steadily adding recently.
Based on this trend analysis, he believes the upward rally has officially started. If following historical patterns—when LTH’s Spend Output Profit Ratio (SOPR) breaks above 6, signaling the arrival of the subsequent profit-taking phase—that would be the position of this cycle’s peak.
#SOPR
On September 15, according to CryptoQuant analyst CW8900’s latest remarks, Bitcoin is breaking out of the bottom range and is starting a new rebound phase.
On-chain data shows that the Spend Output Profit Ratio (SOPR) of long-term holders (LTH) has risen to above 1, indicating that the market is shifting from a bearish phase to a neutral state, and a full uptrend is already underway.
The analyst specifically emphasized that during this cycle, SOPR has not yet broken above 6, while historical cycle peak values are typically formed within that range. However, in the current cycle, there has not yet been a stage where long-term holders take profits, meaning a true bull market has not arrived.
CW8900 noted that the market’s previous movements were essentially preparing for the current round of price increase. Data shows that the amount of Bitcoin held by long-term holders has reached an all-time high, and these investors have been steadily adding recently.
Based on this trend analysis, he believes the upward rally has officially started. If following historical patterns—when LTH’s Spend Output Profit Ratio (SOPR) breaks above 6, signaling the arrival of the subsequent profit-taking phase—that would be the position of this cycle’s peak.
#SOPR
