Bitcoin: Long-Term Holder Losses Signal Market Bottom
CryptoNewsTerminal Staff01 Sep, 2024
Bitcoin: Long-Term Holder Losses Signal Market Bottom
## Bitcoin Long-Term Holders Capitulate According to CryptoQuant analyst Julio Moreno, Bitcoin's Long-Term Holder Spent Output Profit Ratio (SOPR) has been on a downward trend since late July. This indicates that long-term holders are selling BTC at a loss. Typically, when SOPR is trending up, it is a buy signal. However, the recent downtrend suggests that long-term holders are losing confidence in the market and are capitulating. This is a bearish sign for Bitcoin, as it suggests that the market may not have reached a bottom yet. However, it is important to note that SOPR is just one indicator, and it should not be used in isolation to make investment decisions.
