🚨 BITCOIN DEMAND REMAINS STRONG
Bitcoin’s SOPR is holding above 1 according to Glassnode, signaling that coins being spent are still on average moving at a profit
That’s an important market signal because sustained SOPR readings above 1 have historically been associated with bullish market conditions. Investors are realizing gains but the selling isn’t currently strong enough to create major weakness in BTC.
The key part is what happens next. If SOPR stays above 1 while Bitcoin continues to hold its current levels, it suggests the market is absorbing profit taking without losing demand.
$BTC
$HYPE
Bitcoin’s SOPR is holding above 1 according to Glassnode, signaling that coins being spent are still on average moving at a profit
That’s an important market signal because sustained SOPR readings above 1 have historically been associated with bullish market conditions. Investors are realizing gains but the selling isn’t currently strong enough to create major weakness in BTC.
The key part is what happens next. If SOPR stays above 1 while Bitcoin continues to hold its current levels, it suggests the market is absorbing profit taking without losing demand.
$BTC
$HYPE
