maartunn
Spent Output Profit Ratio is looking for a retest
The SOPR (Spent Output Profit Ratio) indicator provides insight into macro market sentiment, profitability, and losses taken over a particular time frame. By using the SOPR, you'll be able to indicate if the market is, on average, at profit or in a loss. ▶ SOPR value greater than 1 ( SOPR > 1 ) It implies that the coins moved in a certain timescale are, on average, selling at a profit. ▶ SOPR value of exactly 1 ( SOPR =1 ) It implies that the coins moved in a certain timescale are, on average, selling coins at break even. ▶ SOPR value less than 1 ( SOPR < 1) It implies that the coins moved in a certain timescale are, on average, selling at a loss. During the most recent pump, SOPR managed to get above '1', which shows that the bitcoin that has moved on-chain is (on average) in profit. For a bullish bias, SOPR has to stay above 1. In the most ideal situation, a retest will happen as we did a few days ago and bounce from there. That will suggest that investors are willing to buy more bitcoin at their break-even level 😉