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Short Terms Profit Important to Bull Market
Profitable Days One of the most important signs of a bull market is Bitcoin Profitable Days Ongoing process. According to Bitcoin Price Cycle and On-chain metric, when we have seen the continuous growth of market profitability in consecutive months, The recovery phase of the market will begin, and the Holders' interest will return to the market. These factors should be beside an increase in short-term holders' spent profits considering the nature of these holders cause interest in increasing the bitcoin accumulation and reducing their selling pressure. Usually, the beginning of price growth is associated with the profitability of short-term holders, and now we want to examine the Spent outputs of short-term holders. First of all, SOPR : In this On-chain Metric, reaching the top of the number 1 often indicates the spent outputs in the profit, and below this level, in the loss. SOPR indicates the movement of the coins based on the value of the first UTXOS compared to the value that these UTXOS moved. Estimating these movements only with the intention of selling is a mistake. ASOPR : In ASOPR Metric, coins that lived under 1 hour have been removed. In the bearish market, after approaching number 1 and slightly above it, we saw the exit of liquidity, which generally indicated the bearish outlook of the holders. It is noticeable that the technical look at number 1 of this metric is a mistake, and it is valuable for us to determine the profit or loss of spent outputs. STH_SOPR : According to the previous explanations, now the price of Bitcoin is near number 1 of the ASOPR metric and above the number 1 level of the short-term holders. During the coming months, if the short-term holders are interested in accumulating and entering at this level and are not interested in selling in exchanges for price growth, it will be a bullish sign for Bitcoin. These factors usually lead to short-term holders will become long-term holders, according to bitcoin's past price cycles.