BTC aSOPR 20MA bouncing off its 8+ year "support" for only 3rd time in the entire history

BTC-aSOPR-20MA-bouncing-off-its-8-year-support-for-only-3rd-time-in-the-entire-h

The "adjusted Spent Output Profit Ratio", which measures whether coins moved on a certain timescale are, on average, selling at a loss or profit has reached "pain" levels not seen since the late dec 2018 (0.93 level) and before last cycle's bottom this level was established during the 2015 bear market's bottoming process. We are talking about aSOPR levels here hitting basically their 8+ year "support".

If you've been on today's CryptoQuant spaces with Burak and Julio you are aware that macro/FED clearly isn't supportive and that the miners are still under a great deal of pressure, however the current Bitcoin PA somehow holding up somewhat not so bad. 

Just remember that those capitulating miners have to have buyers at the other side of the transaction and purely PA speaking, the selling LOOKS LIKE it's being soaked up. Doesn't mean the whales can't establish a lower accumulation band, however these are EXCELLENT DCA/accumulation times.

Stay humble and stack sats! Stack hard!