TradingView.com<\/a><\/figcaption><\/figure>\nFeatured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has continued to see declining performance in recent days with on-chain metrics offering valuable insights into market behavior. Among these metrics, the Spent Output Profit Ratio (SOPR) for long-term holders has particularly emerged as a critical tool for assessing investor sentiment and market resilience. Long-term holders, defined as investors holding Bitcoin for over 155 days, are often viewed as a stabilizing force in the market. Their selling patterns can significantly influence price trends, making SOPR an indicator worth watching. Related Reading: Bitcoin Market Leverage and Coinbase Premium: What Recent Data Reveals Long-Term Holder Trends And Market Sentiment Recent analysis from a CryptoQuant analyst known as Cryptoavails highlights that Bitcoin\u2019s long-term holder SOPR metric continues to exhibit notable patterns as Bitcoin\u2019s price trends upward. Historically, SOPR values above 1 indicate that long-term holders are selling at a profit, while values below 1 suggest they are offloading their holdings at a loss. This behavior reflects broader market confidence or capitulation during periods of price decline. Currently, the SOPR metric remains consistently above 1, signaling that long-term holders are selling profitably without adding significant downward pressure on Bitcoin\u2019s price. The analysis from Cryptoavails tracks key phases in the Bitcoin market over the past two years, highlighting significant shifts in SOPR values. For instance, in early 2022, the SOPR metric showed high volatility with frequent spikes, suggesting intense profit-taking activity by long-term holders. Amid these sales, Bitcoin\u2019s price experienced a downward trend, reflecting persistent selling pressure during that period. This trend gradually shifted in late 2022 and early 2023 when the SOPR metric mostly remained below 1, indicating that long-term holders were selling at a loss as the market sought to find stability. By mid-2023, the SOPR began trending upwards, signaling renewed confidence among long-term investors. The metric consistently moved closer to or above the critical level of 1, suggesting that long-term holders were once again selling at a profit while market confidence began to recover. This upward trend has remained intact into 2024, supported by Bitcoin\u2019s rising price levels. Importantly, there have been no significant sell-offs by long-term holders, reinforcing the broader market\u2019s stability, according to the crypto analyst. SOPR As A Forward Indicator For Market Growth Overall, Cryptoavails\u00a0mentioned that the current state of Bitcoin\u2019s SOPR suggests a healthy market dynamic, with long-term holders contributing to a stable price structure. Despite periodic corrections, the sustained presence of SOPR above 1 indicates that selling pressure remains controlled. Related Reading: What\u2019s The Worst Case Scenario For Bitcoin Right Now? Analyst Explains The analyst also pointed out that this behavior reflects market maturity, where long-term investors are not rushing to offload their holdings despite Bitcoin\u2019s price appreciation. Regardless, Bitcoin has continued to consistently decrease in price since its sharp drop below $100,000 last week. At the time of writing, Bitcoin trades at a price of $93,991 down by 1.6% in the past 24 hours. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":666556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,6848,84438,1119,78790,10923],"class_list":["post-666513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-price-prediction","tag-bitcoin-sopr","tag-btc","tag-btcusdt","tag-crypto-market"],"acf":[],"yoast_head":"\n
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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin\u2019s Key SOPR Metric Holds Steady: Are Long-Term Holders Eyeing Higher Prices?","url":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-key-sopr-metric-holds-steady-are-long-term-holders\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-key-sopr-metric-holds-steady-are-long-term-holders\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/DALL\u00b7E-2024-12-23-16.25.06-A-detailed-digital-illustration-depicting-Bitcoins-SOPR-Spent-Output-Profit-Ratio-metric-holding-steady-symbolizing-market-stability-and-long-term.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/DALL\u00b7E-2024-12-23-16.25.06-A-detailed-digital-illustration-depicting-Bitcoins-SOPR-Spent-Output-Profit-Ratio-metric-holding-steady-symbolizing-market-stability-and-long-term.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin market","bitcoin price prediction","bitcoin sopr","btc","btcusdt","crypto market"],"dateCreated":"2024-12-24T00:30:09Z","datePublished":"2024-12-24T00:30:09Z","dateModified":"2024-12-24T00:30:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin\\u2019s Key SOPR Metric Holds Steady: Are Long-Term Holders Eyeing Higher Prices?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-key-sopr-metric-holds-steady-are-long-term-holders\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-key-sopr-metric-holds-steady-are-long-term-holders\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/DALL\\u00b7E-2024-12-23-16.25.06-A-detailed-digital-illustration-depicting-Bitcoins-SOPR-Spent-Output-Profit-Ratio-metric-holding-steady-symbolizing-market-stability-and-long-term.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/DALL\\u00b7E-2024-12-23-16.25.06-A-detailed-digital-illustration-depicting-Bitcoins-SOPR-Spent-Output-Profit-Ratio-metric-holding-steady-symbolizing-market-stability-and-long-term.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin market\",\"bitcoin price prediction\",\"bitcoin sopr\",\"btc\",\"btcusdt\",\"crypto market\"],\"dateCreated\":\"2024-12-24T00:30:09Z\",\"datePublished\":\"2024-12-24T00:30:09Z\",\"dateModified\":\"2024-12-24T00:30:09Z\"}<\/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\/2024\/12\/DALL\u00b7E-2024-12-23-16.25.06-A-detailed-digital-illustration-depicting-Bitcoins-SOPR-Spent-Output-Profit-Ratio-metric-holding-steady-symbolizing-market-stability-and-long-term.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/666513","targetHints":{"allow":["GET"]}}],"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\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=666513"}],"version-history":[{"count":1,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/666513\/revisions"}],"predecessor-version":[{"id":666560,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/666513\/revisions\/666560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/666556"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=666513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=666513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=666513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}