Understanding Bitcoin's market sentiment involves tracking the percentage of short-term holder (STH) supply in loss and the spent output profit ratio (SOPR). These indicators show us how recent buyers are faring and their potential impact on price movements. Between Jul. 28 and Aug. 20, STH supply in loss rocketed from 21.74% to 94.21%, then slightly dropped. An alarming sign? Not so fast. The key metric that could change your perspective is SOPR, which reveals that...
Realized losses minimal despite 80% of STH supply being underwater
Shallow losses suggest confidence among Bitcoin holders despite high underwater supply.
2 min read
Updated: Aug. 21, 2024 at 3:43 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
