$BTC's 'short-term holder spent output profitability ratio' shows coins moved on-chain that have a lifespan of less than 155 days are being sold for a profit. godbole17 reports
Bitcoin's near-term outlook appears constructive as blockchain data show short-term holders of the cryptocurrency are moving coins at a profit.
"After a brief stint of coins moving at a loss, STH-SOPR is now back above 1," analysts at Blockware Solutions said in a weekly newsletter."This is bullish for near-term price action as it shows capitulation from short-term holders." The SOPR is calculated by dividing the realized dollar value of a spent output by the value at output creation to reflect the degree of realized profit for all coins moved on-chain. The short-term holder SOPR is focused on all wallets that have held onto their coins for less than 155 days.
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