PelinayPa user coding analyst noticed a modern transformation in the profitability of bitcoin merchants with potential upward effects. It is worth noting that the first cryptocurrency continues to trade in the price area of $ 115,000 after the previous price gains on Thursday, and it was followed by an equal correction.
SOPR UP ratio: Market signals indicate Rally New Bitcoin
in QuickTake Post On September 19, PelinayPa shares some potential ideas in the future Bitcoin path based on the latest developments in the SOPR. For context, SOPR is a scale on the chain that reflects whether bitcoin investors sell their coins with profit or loss.
However, this scale can also be used to measure the profitability balance between Long -term holder and Short -term holders When we compare SOPR ratios for both sides, that is, LTH/St Sopr. When the percentage is high (LTH> Sth), it indicates that experienced investors are more profitable, and often indicates the beginning or continuing of the sustainable bull market.
On the contrary, when the ratio is low (LTH For example, in the 2020-2021 bull race, the percentage remained moderate as short-term traders recorded great gains alongside their long-term holders, which led to a non-sustainable and summit gathering in the weak market, ultimately leading to a significant correction of the price.
PelinayPa also refers to the depths of the 2022-2024 bear market during the SOPR ratio, which reflects the weakness of profitability between long-term holders, but when Bitcoin began to recover during the years 2023 and 2024, the scale began to climb again, and looks at a potential structural shift to the new bull stage.
On the current market, the Sopr LTH/Sth ratio is balanced but moves up, and it is a sign that their long -term owners regain their interest. PelinayPa suggests that this can represent the early stages of the new bull cycle, with a signal to $ 120,000 as a major technical goal.
Bitcoin’s accumulation is still high
In other news, institutions and whales in the United States continue to collect large levels of bitcoin regardless of price movements. Darkfost market analyst Reports This Coinbase premium has turned into a positive positive since April, reflecting the most powerful institutional demand of American merchants compared to entities on other trading platforms, such as Binance. Time to write this report, Bitcoin is trading at $ 115,668 after a 0.35 % net loss in the past seven days.
Distinctive image from Flickr, the tradingvief chart
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