{"id":490903,"date":"2022-05-19T19:00:42","date_gmt":"2022-05-19T19:00:42","guid":{"rendered":"https:\/\/wncen.com\/?p=490903"},"modified":"2024-06-11T08:09:42","modified_gmt":"2024-06-11T08:09:42","slug":"bitcoin-selling-long-term-holder-sopr-up","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-selling-long-term-holder-sopr-up\/","title":{"rendered":"Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up"},"content":{"rendered":"

On-chain data shows the Bitcoin long-term holder SOPR has recently observed spikes, suggesting that this cohort is still continuing to sell.<\/p>\n

Bitcoin Long-Term Holder SOPR Spiked Up When Price Crossed $30k<\/h2>\n

As pointed out by a CryptoQuant post<\/a>, selling pressure in the market still looks to be high as long-term holders are also looking to sell.<\/p>\n

The “spent output profit ratio<\/a>” is an indicator that tells us whether the overall market is selling Bitcoin at a profit or loss right now.<\/p>\n

The metric works by checking the on-chain history of each coin being sold to see what price it last moved at. It then divides the current price (that is, the selling price) with the last price.<\/p>\n

When the value of this ratio is greater than one, it means investors are, on an average, selling at a profit at the moment.<\/p>\n

On the other hand, values of the indicator less than one imply that the Bitcoin market as a whole is realizing loss currently.<\/p>\n

A cohort of BTC investors is the “long-term holder<\/a>” (LTH) group, who hold their coins for at least 155 days before selling.<\/p>\n

Related Reading |\u00a0Bitcoin Bearish Signal: Whales Ramp Up Dumping<\/a><\/em><\/strong><\/p>\n

The “LTH SOPR” tells us about profit or loss realization from specifically this group. Here is a chart that shows the trend in this indicator (EMA 144) over the past month:<\/p>\n

\"Bitcoin<\/p>\n

It seems like the value of the metric has observed some spikes recently | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the Bitcoin long-term holder SOPR (EMA 144) had a couple of spikes in the last few days.<\/p>\n
One took place on 13th May, while the other occurred on the 18th. During both these instances, the price had crossed $30k shortly before.<\/p>\n
Related Reading |\u00a0Funding Rates Fall To Yearly Lows Following Bitcoin\u2019s Fall Below $29,000<\/a><\/em><\/strong><\/p>\n
This means that LTHs have been feeling pressure in the current market to realize their profits as soon as the price reaches above $30k.<\/p>\n
Usually, Bitcoin long-term holders are the least likely cohort to sell. So, selling pressure from this group can prove to be bearish for the crypto’s price.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $29.4k, up 3% in the last seven days. Over the past month, the crypto has lost 28% in value.<\/p>\n
The below chart shows the trend in the price of the coin over the last five days.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the price of the crypto has seen some decline over the past two days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Over the past week, Bitcoin has mostly consolidated around the $30k mark, failing to gain any ground above the mark. As long as selling at the level continues, the crypto won’t be able to make any real recovery.<\/p>\n
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin long-term holder SOPR has recently observed spikes, suggesting that this cohort is still continuing to sell. Bitcoin Long-Term Holder SOPR Spiked Up When Price Crossed $30k As pointed out by a CryptoQuant post, selling pressure in the market still looks to be high as long-term holders are also looking to sell. The “spent output profit ratio” is an indicator that tells us whether the overall market is selling Bitcoin at a profit or loss right now. The metric works by checking the on-chain history of each coin being sold to see what price it last moved at. It then divides the current price (that is, the selling price) with the last price. When the value of this ratio is greater than one, it means investors are, on an average, selling at a profit at the moment. On the other hand, values of the indicator less than one imply that the Bitcoin market as a whole is realizing loss currently. A cohort of BTC investors is the “long-term holder” (LTH) group, who hold their coins for at least 155 days before selling. Related Reading |\u00a0Bitcoin Bearish Signal: Whales Ramp Up Dumping The “LTH SOPR” tells us about profit or loss realization from specifically this group. Here is a chart that shows the trend in this indicator (EMA 144) over the past month: It seems like the value of the metric has observed some spikes recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin long-term holder SOPR (EMA 144) had a couple of spikes in the last few days. One took place on 13th May, while the other occurred on the 18th. During both these instances, the price had crossed $30k shortly before. Related Reading |\u00a0Funding Rates Fall To Yearly Lows Following Bitcoin\u2019s Fall Below $29,000 This means that LTHs have been feeling pressure in the current market to realize their profits as soon as the price reaches above $30k. Usually, Bitcoin long-term holders are the least likely cohort to sell. So, selling pressure from this group can prove to be bearish for the crypto’s price. BTC Price At the time of writing, Bitcoin’s price floats around $29.4k, up 3% in the last seven days. Over the past month, the crypto has lost 28% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the price of the crypto has seen some decline over the past two days | Source: BTCUSD on TradingView Over the past week, Bitcoin has mostly consolidated around the $30k mark, failing to gain any ground above the mark. As long as selling at the level continues, the crypto won’t be able to make any real recovery. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":490905,"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":[428,84666,86008,86007,84438,1119,1144],"class_list":["post-490903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-long-term-holders","tag-bitcoin-lth-sopr","tag-bitcoin-selling-pressure","tag-bitcoin-sopr","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin long-term holder SOPR has recently observed spikes, suggesting that this cohort is still continuing to sell. 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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":"Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up","url":"http:\/\/wncen.com\/news\/bitcoin-selling-long-term-holder-sopr-up\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-selling-long-term-holder-sopr-up\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/marc-olivier-jodoin-sI2Dz2dacGI-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/marc-olivier-jodoin-sI2Dz2dacGI-unsplash-scaled.jpg?fit=2048%2C2560"},"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 long-term holders","bitcoin lth sopr","bitcoin selling pressure","bitcoin sopr","btc","btcusd"],"dateCreated":"2022-05-19T19:00:42Z","datePublished":"2022-05-19T19:00:42Z","dateModified":"2024-06-11T08:09:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-selling-long-term-holder-sopr-up\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-selling-long-term-holder-sopr-up\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/marc-olivier-jodoin-sI2Dz2dacGI-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/marc-olivier-jodoin-sI2Dz2dacGI-unsplash-scaled.jpg?fit=2048%2C2560\"},\"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 long-term holders\",\"bitcoin lth sopr\",\"bitcoin selling pressure\",\"bitcoin sopr\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-05-19T19:00:42Z\",\"datePublished\":\"2022-05-19T19:00:42Z\",\"dateModified\":\"2024-06-11T08:09:42Z\"}<\/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\/2022\/05\/marc-olivier-jodoin-sI2Dz2dacGI-unsplash-scaled.jpg?fit=2048%2C2560","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490903"}],"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=490903"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/490905"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=490903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=490903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=490903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}