caueconomy
We are not yet in the Bull Market, according to aSOPR indicator ๐จ
Adjusted Output Profit Ratio is a metric developed to track expenses on-chain in profit/loss, through it we can also identify price trends. When looking at lossmaking, we see that during the bear, long periods of realization below base cost find resistance to return to profitability. This occurs because network participants seek to exit the market by zeroing their losses. This type of movement causes most currencies to be sold again at their average price during recovery periods within a bearish central trend. (red arrow) When we see these achievements taking place with significant profit, we can identify the breakout of the downtrend and return to expressive highs, this has occurred in all previous cycles. (green arrow) At this point, we have seen a moment of realization in the base cost (Bear Rally), suggesting that we are maintaining the downtrend and have not yet had the confirmation breakout of the next bull run, despite being in a bottom region according to the MVRV.