Why Pain May Not Be Over For Bitcoin Holders Just Yet

Past trend of the Bitcoin long-term holder SOPR (EMA 30) may suggest that BTC holders may face more pain in the coming months. The metric works by going through the transaction history of each coin being sold on the chain, to see what price it was last moved at. If the previous selling price of any coin was less than the current value of the coin, then the coin has just been sold for a profit. On the other hand, values of the indicator less than one imply investors as a whole are realizing some loss at the moment. The analyst notes that while such capitulation events have historically lead to bottom formations, it may still be a while, even months, before a low is actually found. BTC price at the time of writing, Source