caueconomy
Short term holders are having their cost base tested now, will they hold?๐ฅ
The profit/loss movement indicator typically demonstrates repurchase or buying pressure under the base cost of STH's. Right now, the SOPR for short-term holders is at 1, indicating that investors who bought coins in the last 155 days have an average acquisition cost at approximately current market value. This provides pressure on the market as it indicates that traders will be more sensitive to price action at the current level. Usually in bull markets, traders tend to defend this price range and few on-chain losses are incurred, when analyzing the weekly average of these movements. The current setup already had a similar test on March 12th, indicating possible similar movement with previous cycles.