The SOPR ratio confirms the first steps of a trend change in an upward direction.

The-SOPR-ratio-confirms-the-first-steps-of-a-trend-change-in-an-upward-direction

Unlike SOPR, the SOPR ratio is calculated as the value of LTHSOPR divided by STHSOPR. 

To analyze this on-chain data, I have used the Triple Exponential Average (50) to filter out the noise and to compare it with the Moving Average Crossover (50-200). 

Historical data suggests that every time the Triple Exponential Average (50) crosses the median data to reach and stay positive values and is accompanied by a confirmation of the MA50-200 crossover, it indicates a new go-up phase. 

Currently, the crossover is so close, and TRIX (50) has been positive value. 

The measures of this data now suggest that Bitcoin is ready to enter the new bull ladder, despite the Federal Reserve Chair's insistence that interest rates must continue to rise to contain inflation.