Is Bitcoin Near The Bottom of The Bear Market?
— Join us, Lth sopr helps us, Btc market, Term holder, Realizing losses )., Present status, Spent output profit ratio, Profit, Volatility exists, Price discovery — 1 min read
Long-Term Holder SOPR (LTH-SOPR) tells us how many addresses or holders are in profit at any given time. The current LTH SOPr indicator is at 0.6. That means the Long Term Holders are at a loss and will not be selling aggressively. Usually, LTHsOPR values below 0.5 denote a market bottom. In the 2018 bear market, the market bottom was 0.47. Logically, a SopR value of 0.53-0.55 (considering the change in marketcap) can form the 2022 bear market bottom of the Bitcoin market. A strong recovery will depend on macroeconomic conditions, but rest assured, price discovery will take place sooner or later. Source