$BTC
BTC, Glassnode trotted out a well-worn set of on-chain logic: the gist is that the current buy-side still has enough backbone, and even if the big bag simply cashes out its profits, it won’t necessarily crash the market.
As long as the SOPR after adjustments by real entities can stay reliably above 1, that means the market is still meeting the benchmark for a bull market. Once it falls back below 1, it suggests that this round of buyer demand is starting to run out of steam.
BTC, Glassnode trotted out a well-worn set of on-chain logic: the gist is that the current buy-side still has enough backbone, and even if the big bag simply cashes out its profits, it won’t necessarily crash the market.
As long as the SOPR after adjustments by real entities can stay reliably above 1, that means the market is still meeting the benchmark for a bull market. Once it falls back below 1, it suggests that this round of buyer demand is starting to run out of steam.
