Short Term Holder SOPR at bull market levels

Short-Term-Holder-SOPR-at-bull-market-levels

> During the recent rally from 16k to 23k, a lot of momentum was implied. This means that buyers were aggressive and that they are well in profit, as that's what SOPR indicates. In short, we're seeing a sustained rally

> What's next? Bitcoin is also close to breaking its next high timeframe resistance near $25k. If this is successful, short term holders will increase momentum even more, making price reach $27-28k

> As long as $25k is not broken, BTC is likely to slightly retrace —see the divergence between SOPR and price, in which the former is trending down while the latter is stable. 

Ultimately, it's an indicator that some of these short term holders are getting trapped into buying now while other forces (exchange market makers, which do not move funds on-chain usually) are driving price down


TLDR: BTC is likely to pullback at these levels based on the Short Term Holder SOPR, but if it does break 25k soon, targets would be around 27-28k