The encryption analyst in the user name PELINAYPA recently mentioned that the profitability of Bitcoin Traders has been converted to potentially strong implications. In particular, Premier Cryptocurrency continues to be traded within $ 115,000 after the equal bill was revised, following the prices before Thursday.
SOPR ratio trend up: The market signal refers to a new Bitcoin rally.
On September 19, at Quicktake Post, PELINAYPA shares its potential insight into Bitcoin’s future trajectory based on the development of the latest output profit ratio (SOPR). In the context, SOPR is a hot chain metrics that reflect whether Bitcoin investors are selling coins with benefits or losses.
However, this metrics can also be used to measure the balance of profitability between long -term holders and short -term holders when comparing the SOPR ratio of both parties, that is, LTH/STH SOPR. When the ratio is high (LTH> STH), seasoned investors are more profitable and often inform the start or sustainability of the sustainable bull market.
On the contrary, when the ratio is low (LTH For example, in the 2020-2021 Bull Run, short-term traders recorded significant profits with long-term holders, and the ratio remained secondary as it was established as a sustainable rally and weak market tower.
PELINAYPA also mentioned the depth of the bear market in 2022-2024 during the SOPR ratio, reflecting the profitability of long-term owners, but as Bitcoin began to recover by 2023 and 2024, Metric began to climb again and reserved a potential structural change to a new bull stage.
In the current market, the LTH/STH SOP ratio is balanced, but if you move upwards, it is a sign that long -term holders are regaining their benefits. PELINAYPA can indicate the initial stage of the new bull cycle, and the indicator points out $ 120,000 as the next major upward technology goal.
Bitcoin whale accumulation is still high
In other news, US -based institutions and whales continue to accumulate a significant level of bitcoin regardless of price change. Market Analyst Darkfost has reported that Coinbase Premium has changed positively since April, reflecting the strong institutional demand of US traders compared to other trading platforms such as Binance. At the time of writing Bitcoin is traded at $ 115,668 with a loss of 0.35%over the last seven days.
FLICKR’s main image, TradingView chart
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