{"id":513380,"date":"2022-12-22T14:00:14","date_gmt":"2022-12-22T19:00:14","guid":{"rendered":"https:\/\/uniquehot.com\/?p=513380"},"modified":"2024-06-11T14:33:29","modified_gmt":"2024-06-11T14:33:29","slug":"bitcoin-ratio-declined-lowest-bottom-near","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-ratio-declined-lowest-bottom-near\/","title":{"rendered":"Bottom Signal: This Bitcoin Ratio Declines To Four-Year Low"},"content":{"rendered":"

On-chain data shows a Bitcoin ratio has hit the lowest value since February 2019, something that may suggest the bottom could be near for the current cycle.<\/p>\n

Bitcoin SOPR Ratio Hits Lows Not Seen Since 4 Years Ago<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the SOPR Ratio has a value of just 0.53 right now. The “Spent Output Profit Ratio<\/a>” (SOPR) is an indicator that tells us whether Bitcoin investors as a whole are selling at a profit or at a loss currently.<\/p>\n

There are two main investor groups in the BTC market, the “short-term holders<\/a>” (STHs) and the “long-term holders<\/a>” (LTHs). STHs include all holders that have been holding onto their coins for less than 155 days, while LTHs are investors who have been keeping their coins dormant for longer than this threshold amount.<\/p>\n

Now, there is a metric called the “SOPR Ratio” that measures the ratio between the SOPR values for the LTHs and the STHs. When this indicator has a value greater than 1, it means the LTHs are realizing more profits than the STHs right now. On the other hand, values below 1 suggest STHs have been raking in a higher amount of profits.<\/p>\n

Related Reading: Altcoin Indexes Take Beating As Investors Flip Alts For Bitcoin<\/a><\/div>\n

Now, here is a chart that shows the trend in the Bitcoin SOPR Ratio over the course of the entire history of the cryptocurrency:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have declined recently | Source: CryptoQuant<\/a><\/pre>\n
As the above graph highlights, the Bitcoin SOPR Ratio has historically gone below a value of 1 during bear markets. The reason behind this is that the holders who bought during the preceding bull run slowly mature into LTHs as a bear takes hold, while the STH cohort starts being made up of investors who bought at the lower, bear-market prices.<\/p>\n
Related Reading:  XRP Accumulation: Key Sharks And Whales Group Hits All-Time High Holdings<\/a><\/div>\n
During bears, both holder groups generally realize losses as a whole, but since STHs acquire their coins at relatively lower prices, their losses are lesser. The reverse happens in bull runs, as the LTHs who bought at the cycle lows amass large profits, and thus the SOPR Ratio attains values higher than 1.<\/p>\n
Recently, the indicator has dropped to a value of 0.53, which suggests large-scale capitulation from the LTHs. The current value is the lowest since February 2019, around when the lows of the previous cycle were observed. This could hint that the bottom for the current bear market may also be near, if not already in.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price floats around $16,800, down 4% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC has shown boring price action in the last few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Jievani Weerasinghe on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows a Bitcoin ratio has hit the lowest value since February 2019, something that may suggest the bottom could be near for the current cycle. Bitcoin SOPR Ratio Hits Lows Not Seen Since 4 Years Ago As pointed out by an analyst in a CryptoQuant post, the SOPR Ratio has a value of just 0.53 right now. The “Spent Output Profit Ratio” (SOPR) is an indicator that tells us whether Bitcoin investors as a whole are selling at a profit or at a loss currently. There are two main investor groups in the BTC market, the “short-term holders” (STHs) and the “long-term holders” (LTHs). STHs include all holders that have been holding onto their coins for less than 155 days, while LTHs are investors who have been keeping their coins dormant for longer than this threshold amount. Now, there is a metric called the “SOPR Ratio” that measures the ratio between the SOPR values for the LTHs and the STHs. When this indicator has a value greater than 1, it means the LTHs are realizing more profits than the STHs right now. On the other hand, values below 1 suggest STHs have been raking in a higher amount of profits. Related Reading: Altcoin Indexes Take Beating As Investors Flip Alts For Bitcoin Now, here is a chart that shows the trend in the Bitcoin SOPR Ratio over the course of the entire history of the cryptocurrency: The value of the metric seems to have declined recently | Source: CryptoQuant As the above graph highlights, the Bitcoin SOPR Ratio has historically gone below a value of 1 during bear markets. The reason behind this is that the holders who bought during the preceding bull run slowly mature into LTHs as a bear takes hold, while the STH cohort starts being made up of investors who bought at the lower, bear-market prices. Related Reading: XRP Accumulation: Key Sharks And Whales Group Hits All-Time High Holdings During bears, both holder groups generally realize losses as a whole, but since STHs acquire their coins at relatively lower prices, their losses are lesser. The reverse happens in bull runs, as the LTHs who bought at the cycle lows amass large profits, and thus the SOPR Ratio attains values higher than 1. Recently, the indicator has dropped to a value of 0.53, which suggests large-scale capitulation from the LTHs. The current value is the lowest since February 2019, around when the lows of the previous cycle were observed. This could hint that the bottom for the current bear market may also be near, if not already in. BTC Price At the time of writing, Bitcoin’s price floats around $16,800, down 4% in the last week. Looks like BTC has shown boring price action in the last few days | Source: BTCUSD on TradingView Featured image from Jievani Weerasinghe on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":513404,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,27251,84666,84852,84438,87463,1119,1144],"class_list":["post-513380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bottom","tag-bitcoin-long-term-holders","tag-bitcoin-short-term-holders","tag-bitcoin-sopr","tag-bitcoin-sopr-ratio","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBottom Signal: This Bitcoin Ratio Declines To Four-Year Low<\/title>\n<meta name=\"description\" content=\"On-chain data shows a Bitcoin ratio has hit 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bottom Signal: This Bitcoin Ratio Declines To Four-Year Low","url":"http:\/\/uniquehot.com\/news\/bitcoin-ratio-declined-lowest-bottom-near\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-ratio-declined-lowest-bottom-near\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-scaled.jpg?fit=2560%2C1570"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bottom","bitcoin long-term holders","bitcoin short-term holders","bitcoin sopr","bitcoin sopr ratio","btc","btcusd"],"dateCreated":"2022-12-22T19:00:14Z","datePublished":"2022-12-22T19:00:14Z","dateModified":"2024-06-11T14:33:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bottom Signal: This Bitcoin Ratio Declines To Four-Year Low\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-ratio-declined-lowest-bottom-near\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-ratio-declined-lowest-bottom-near\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-scaled.jpg?fit=2560%2C1570\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bottom\",\"bitcoin long-term holders\",\"bitcoin short-term holders\",\"bitcoin sopr\",\"bitcoin sopr ratio\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-12-22T19:00:14Z\",\"datePublished\":\"2022-12-22T19:00:14Z\",\"dateModified\":\"2024-06-11T14:33:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/jievani-weerasinghe-NHRM1u4GD_A-unsplash-scaled.jpg?fit=2560%2C1570","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/513380"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=513380"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/513380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/513404"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=513380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=513380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=513380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}