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STH Capitulation ๐ณ๏ธ
The Short-Term Holder SOPR (Spent Output Profit Ratio) has remained negative for over two months, currently hovering around 0.98, indicating that STHs are selling at a loss. โ > SOPR compares the realized selling price with the original purchase price. When this ratio drops below 1, it signals capitulation among STHs, often leading to short-term price declines. At the same time, we can confirm this trend by observing the $BTC being sent to exchanges at a loss. We are witnessing a hike of 46,000 Bitcoin sent to exchange to realize loss. These are clear signs of challenging market conditions for the short term.