BTC Short-term holder SOPR suggests upside

BTC-Short-term-holder-SOPR-suggests-upside

The short-term holder SOPR metric is a SOPR metric calculated only for coins held for more than 1 hour but less than 155 days. It indicates whether short-term holders have made a profit or loss compared to when they first held Bitcoin, with a value above 1 indicating a high percentage of coins that have made a profit on their short-term investment, and a value below 1 indicating a high percentage of coins that have lost money. 

Currently, despite Bitcoin reaching $70k, the value of this indicator is 1.017%, indicating that short-term holders are realizing some profits and are not yet overheating. During the 24-year, 7-month sideways range, 1.03% was considered overheating, and there is upside before reaching that value.

If the price of Bitcoin surpasses the point high and the short-term holder SOPR value continues to spike, we could see the start of a full-blown rally. However, the outcome of the US election could be a major turning point for asset prices, including coins, so it's worth considering the risks and reacting accordingly.