On-Chain Data Shows Bitcoin Investors Don’t Want To Sell At This Level

According to on-chain data, Bitcoin SOPR is still assuming flat values, indicating that investors are likely to not be willing to sell at this level. Bitcoin SOPR Stagnates, Despite Huge Rise In The Crypto’s Price As per a post from CryptoQuant, while Bitcoin’s price shows a sharp improvement as the coin reaches $55k for the first time since May, the SOPR is still showing a flattened line. The Spent Output Profit Ratio, or SOPR in short, is a BTC indicator that shows the profit ratio of the whole market. It does so by looking at the chain transactions and comparing the price at which a purchase transaction happened and the price at which those same coins were sold. When the value of this indicator is greater than 1, it means the coins moved in the specified timescale are on an average selling at a profit. Contrary to that, SOPR values below 1 would suggest BTC transacted in the period sold at a loss on average. While a value of exactly one would mean sellers are just breaking even. Related Reading | Bitcoin Inflows Shows Institutional Investors Are Back On The Bull Train Now, here is a chart showing the trend in this indicator for BTC: Bitcoin's SOPR seems to have flattened recently | Source: CryptoQuant When the indicator shows a rising value, it means investors have started realizing their profits by selling off their coins. A decreasing value, on the other hand, would mean holders are dumping their coi...