Bitcoin’s adjusted SOPR has moved back above 1.0.
This means coins moved on-chain are being spent at an average profit, while the market is still absorbing that selling pressure.
In the chart, SOPR remains above the 1.0 breakeven line as Bitcoin recovers. This suggests demand is present, but it does not guarantee that every dip will lead to a rally.
The key level to watch is whether SOPR can remain above 1.0 over the next few days.#BTC #SOPR
This means coins moved on-chain are being spent at an average profit, while the market is still absorbing that selling pressure.
In the chart, SOPR remains above the 1.0 breakeven line as Bitcoin recovers. This suggests demand is present, but it does not guarantee that every dip will lead to a rally.
The key level to watch is whether SOPR can remain above 1.0 over the next few days.#BTC #SOPR
