{"id":473231,"date":"2021-10-07T19:00:37","date_gmt":"2021-10-07T19:00:37","guid":{"rendered":"https:\/\/wncen.com\/?p=473231"},"modified":"2024-06-11T13:59:17","modified_gmt":"2024-06-11T13:59:17","slug":"on-chain-data-bitcoin-investors-sell","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/on-chain-data-bitcoin-investors-sell\/","title":{"rendered":"On-Chain Data Shows Bitcoin Investors Don’t Want To Sell At This Level"},"content":{"rendered":"

According to on-chain data, Bitcoin SOPR is still assuming flat values, indicating that investors are likely to not be willing to sell at this level.<\/p>\n

Bitcoin SOPR Stagnates, Despite Huge Rise In The Crypto’s Price<\/h2>\n

As per a post from CryptoQuant<\/a>, while Bitcoin’s price shows a sharp improvement as the coin reaches $55k for the first time since May, the SOPR is still showing a flattened line.<\/p>\n

The Spent Output Profit Ratio, or SOPR<\/a> in short, is a BTC indicator that shows the profit ratio of the whole market. It does so by looking at the chain transactions and comparing the price at which a purchase transaction happened and the price at which those same coins were sold.<\/p>\n

When the value of this indicator is greater than 1, it means the coins moved in the specified timescale are on an average selling at a profit.<\/p>\n

Contrary to that, SOPR values below 1 would suggest BTC transacted in the period sold at a loss on average. While a value of exactly one would mean sellers are just breaking even.<\/p>\n

Related Reading |\u00a0Bitcoin Inflows Shows Institutional Investors Are Back On The Bull Train<\/a><\/strong><\/em><\/p>\n

Now, here is a chart showing the trend in this indicator for BTC:<\/p>\n

\"Bitcoin<\/p>\n

Bitcoin's SOPR seems to have flattened recently | Source: CryptoQuant<\/a><\/pre>\n
When the indicator shows a rising value, it means investors have started realizing their profits by selling off their coins.<\/p>\n
A decreasing value, on the other hand, would mean holders are dumping their coins at a loss, probably because they have no confidence left in the crypto.<\/p>\n
Related Reading |\u00a0Whales Moving Coins Hints At Bitcoin Maturity As Macro Asset<\/a><\/strong><\/em><\/p>\n
As the above graph shows, SOPR values have neither been decreasing nor increasing lately. The curve for the indicator is just a flat line right now.<\/p>\n
This is despite Bitcoin’s recent big move up<\/a>, where usually some investors would start harvesting their profits, but that doesn’t seem to be the case this time.<\/p>\n
Such a trend may be because the majority of holders think the price of the coin will appreciate even further so they aren’t moving around their crypto just yet.<\/p>\n
This unwillingness of the investors to sell their Bitcoin can end up proving to be quite bullish for the cryptocurrency. Though, when holders do start taking their profits, that’s likely when a correction could hit.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $53.7k, up 25% in the last seven days. Over the past thirty days, the coin has surged up 12% in value.<\/p>\n
The below chart highlights the trend in BTC’s price over the last five days.<\/p>\n
\"Bitcoin<\/p>\n
Bitcoin's big rise took it to as high as $55.5k, though since then the price has moved rather sideways | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
According to on-chain data, Bitcoin SOPR is still assuming flat values, indicating that investors are likely to not be willing to sell at this level. Bitcoin SOPR Stagnates, Despite Huge Rise In The Crypto’s Price As per a post from CryptoQuant, while Bitcoin’s price shows a sharp improvement as the coin reaches $55k for the first time since May, the SOPR is still showing a flattened line. The Spent Output Profit Ratio, or SOPR in short, is a BTC indicator that shows the profit ratio of the whole market. It does so by looking at the chain transactions and comparing the price at which a purchase transaction happened and the price at which those same coins were sold. When the value of this indicator is greater than 1, it means the coins moved in the specified timescale are on an average selling at a profit. Contrary to that, SOPR values below 1 would suggest BTC transacted in the period sold at a loss on average. While a value of exactly one would mean sellers are just breaking even. Related Reading |\u00a0Bitcoin Inflows Shows Institutional Investors Are Back On The Bull Train Now, here is a chart showing the trend in this indicator for BTC: Bitcoin’s SOPR seems to have flattened recently | Source: CryptoQuant When the indicator shows a rising value, it means investors have started realizing their profits by selling off their coins. A decreasing value, on the other hand, would mean holders are dumping their coins at a loss, probably because they have no confidence left in the crypto. Related Reading |\u00a0Whales Moving Coins Hints At Bitcoin Maturity As Macro Asset As the above graph shows, SOPR values have neither been decreasing nor increasing lately. The curve for the indicator is just a flat line right now. This is despite Bitcoin’s recent big move up, where usually some investors would start harvesting their profits, but that doesn’t seem to be the case this time. Such a trend may be because the majority of holders think the price of the coin will appreciate even further so they aren’t moving around their crypto just yet. This unwillingness of the investors to sell their Bitcoin can end up proving to be quite bullish for the cryptocurrency. Though, when holders do start taking their profits, that’s likely when a correction could hit. BTC Price At the time of writing, Bitcoin’s price floats around $53.7k, up 25% in the last seven days. Over the past thirty days, the coin has surged up 12% in value. The below chart highlights the trend in BTC’s price over the last five days. Bitcoin’s big rise took it to as high as $55.5k, though since then the price has moved rather sideways | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":473242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84438,1119,1144],"class_list":["post-473231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-sopr","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nOn-Chain Data Shows Bitcoin Investors Don't Want To Sell At This Level<\/title>\n<meta name=\"description\" content=\"According to on-chain data, Bitcoin SOPR is still assuming flat values, indicating that investors are likely to not be willing to sell at this level.\" 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"On-Chain Data Shows Bitcoin Investors Don’t Want To Sell At This Level","url":"http:\/\/wncen.com\/news\/on-chain-data-bitcoin-investors-sell\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/on-chain-data-bitcoin-investors-sell\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/executium-fvXjpVH0PEk-unsplash-1-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/executium-fvXjpVH0PEk-unsplash-1-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin sopr","btc","btcusd"],"dateCreated":"2021-10-07T19:00:37Z","datePublished":"2021-10-07T19:00:37Z","dateModified":"2024-06-11T13:59:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"On-Chain Data Shows Bitcoin Investors Don’t Want To Sell At This Level\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/on-chain-data-bitcoin-investors-sell\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/on-chain-data-bitcoin-investors-sell\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/executium-fvXjpVH0PEk-unsplash-1-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/executium-fvXjpVH0PEk-unsplash-1-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin sopr\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-10-07T19:00:37Z\",\"datePublished\":\"2021-10-07T19:00:37Z\",\"dateModified\":\"2024-06-11T13:59:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/executium-fvXjpVH0PEk-unsplash-1-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/473231"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=473231"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/473231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/473242"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=473231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=473231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=473231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}