{"id":530633,"date":"2023-05-09T12:30:10","date_gmt":"2023-05-09T12:30:10","guid":{"rendered":"https:\/\/wncen.com\/?p=530633"},"modified":"2024-06-11T08:50:14","modified_gmt":"2024-06-11T08:50:14","slug":"bitcoin-plunge-28000-only-temporary-metric","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/","title":{"rendered":"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So"},"content":{"rendered":"

Bitcoin has now plunged under the $28,000 level, but the data of an on-chain indicator may suggest that this drop could only be temporary.<\/p>\n

Bitcoin Short-Term Holder SOPR Has Dropped Just Under The 1 Level<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the current values of the metric have generally served as ideal buying opportunities during rallies in the past.<\/p>\n

The relevant indicator here is the “Spent Output Profit Ratio<\/a>,” which tells us whether the average Bitcoin investor is selling their coins at a profit or at a loss right now.<\/p>\n

When this indicator has a value greater than 1, it means the profits being realized in the market are currently greater than the losses. On the other hand, values below this threshold suggest a dominance of loss-taking from the holders.<\/p>\n

The SOPR being exactly equal to 1 naturally corresponds to a neutral state, where the average holder is just breaking even on their investment, as profits are equal to losses here.<\/p>\n

While the SOPR is generally defined for the entire Bitcoin market, it can also be applied to specific segments of the market. In the context of the current discussion, the “short-term holder<\/a>” (STH) segment is of interest.<\/p>\n

Related Reading: Bitcoin To Drop Further? Whales Show Signs Of Dumping<\/a><\/div>\n

The STHs make up a cohort that includes all investors who have been holding onto their coins since less than 155 days ago. The STHs who manage to hold beyond this threshold enter into the “long-term holder” (LTH) group.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin STH SOPR over the last few years:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have seen some decline recently | Source: CryptoQuant<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin STH SOPR was below the 1 mark during last year’s bear market<\/a>, suggesting that the average STH had been selling at a loss in this period.<\/p>\n
This is the typical behavior observed in bearish periods, as the constant price decline makes investors panic and sell at losses. An interesting pattern that is seen during such periods is that the line where SOPR attains a value of 1 starts providing resistance to the asset.<\/p>\n
The reason this happens is that at this level, the STHs are selling at the price they bought in. During bear markets, they usually go into losses, so whenever they find the opportunity to sell to recoup their original investment, they jump right on it. This is why the level provides resistance and forces the indicator to stay under it.<\/p>\n
Related Reading: Bitcoin Bull Run In Jeopardy As Parabolic SAR Flips Bearish On Daily Chart<\/a><\/div>\n
The opposite behavior is seen in price rallies, however, as holders start looking at the break-even level as a profitable entry point, which leads to a large amount of buying taking place at the level. This assures that the indicator quickly returns above the 1 level if it falls below it.<\/p>\n
From the chart, it’s visible that the rally this year has also seen a similar trend so far, as the Bitcoin STH SOPR has maintained above 1 (besides a temporary drop in March, which ended up resulting in a sharp surge in the price).<\/p>\n
In the last few days, the indicator has again plunged to this level of much historical significance as the price has slipped under $28,000. If the past pattern is anything to go by, a rebound could become more probable for the BTC price here.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $27,600, down 1% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC has sharply dropped in value during the last few days | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has now plunged under the $28,000 level, but the data of an on-chain indicator may suggest that this drop could only be temporary. Bitcoin Short-Term Holder SOPR Has Dropped Just Under The 1 Level As pointed out by an analyst in a CryptoQuant post, the current values of the metric have generally served as ideal buying opportunities during rallies in the past. The relevant indicator here is the “Spent Output Profit Ratio,” which tells us whether the average Bitcoin investor is selling their coins at a profit or at a loss right now. When this indicator has a value greater than 1, it means the profits being realized in the market are currently greater than the losses. On the other hand, values below this threshold suggest a dominance of loss-taking from the holders. The SOPR being exactly equal to 1 naturally corresponds to a neutral state, where the average holder is just breaking even on their investment, as profits are equal to losses here. While the SOPR is generally defined for the entire Bitcoin market, it can also be applied to specific segments of the market. In the context of the current discussion, the “short-term holder” (STH) segment is of interest. Related Reading: Bitcoin To Drop Further? Whales Show Signs Of Dumping The STHs make up a cohort that includes all investors who have been holding onto their coins since less than 155 days ago. The STHs who manage to hold beyond this threshold enter into the “long-term holder” (LTH) group. Now, here is a chart that shows the trend in the Bitcoin STH SOPR over the last few years: The value of the metric seems to have seen some decline recently | Source: CryptoQuant As displayed in the above graph, the Bitcoin STH SOPR was below the 1 mark during last year’s bear market, suggesting that the average STH had been selling at a loss in this period. This is the typical behavior observed in bearish periods, as the constant price decline makes investors panic and sell at losses. An interesting pattern that is seen during such periods is that the line where SOPR attains a value of 1 starts providing resistance to the asset. The reason this happens is that at this level, the STHs are selling at the price they bought in. During bear markets, they usually go into losses, so whenever they find the opportunity to sell to recoup their original investment, they jump right on it. This is why the level provides resistance and forces the indicator to stay under it. Related Reading: Bitcoin Bull Run In Jeopardy As Parabolic SAR Flips Bearish On Daily Chart The opposite behavior is seen in price rallies, however, as holders start looking at the break-even level as a profitable entry point, which leads to a large amount of buying taking place at the level. This assures that the indicator quickly returns above the 1 level if it falls below it. From the chart, it’s visible that the rally this year has also seen a similar trend so far, as the Bitcoin STH SOPR has maintained above 1 (besides a temporary drop in March, which ended up resulting in a sharp surge in the price). In the last few days, the indicator has again plunged to this level of much historical significance as the price has slipped under $28,000. If the past pattern is anything to go by, a rebound could become more probable for the BTC price here. BTC Price At the time of writing, Bitcoin is trading around $27,600, down 1% in the last week. Looks like BTC has sharply dropped in value during the last few days | Source: BTCUSD on TradingView.com Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":530648,"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":[428,87825,84852,84438,85802,1119,1144],"class_list":["post-530633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-rebound","tag-bitcoin-short-term-holders","tag-bitcoin-sopr","tag-bitcoin-sth-sopr","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So<\/title>\n<meta name=\"description\" content=\"Bitcoin has now plunged under the $28,000 level, but the data of this on-chain indicator may suggest that this drop could only be temporary.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has now plunged under the $28,000 level, but the data of this on-chain indicator may suggest that this drop could only be temporary.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-09T12:30:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T08:50:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844\" \/>\n\t<meta property=\"og:image:width\" content=\"1241\" \/>\n\t<meta property=\"og:image:height\" content=\"844\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keshav Verma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/keshavvarma29\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Keshav Verma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/\"},\"author\":{\"name\":\"Keshav Verma\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6\"},\"headline\":\"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So\",\"datePublished\":\"2023-05-09T12:30:10+00:00\",\"dateModified\":\"2024-06-11T08:50:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/\"},\"wordCount\":594,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844\",\"keywords\":[\"bitcoin\",\"Bitcoin Rebound\",\"Bitcoin short-term holders\",\"Bitcoin SOPR\",\"Bitcoin STH SOPR\",\"btc\",\"btcusd\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/\",\"url\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/\",\"name\":\"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844\",\"datePublished\":\"2023-05-09T12:30:10+00:00\",\"dateModified\":\"2024-06-11T08:50:14+00:00\",\"description\":\"Bitcoin has now plunged under the $28,000 level, but the data of this on-chain indicator may suggest that this drop could only be temporary.\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844\",\"width\":1241,\"height\":844,\"caption\":\"financial stock market graph on technology abstract background represent risk of investment\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6\",\"name\":\"Keshav Verma\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g\",\"caption\":\"Keshav Verma\"},\"description\":\"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. 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\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So","description":"Bitcoin has now plunged under the $28,000 level, but the data of this on-chain indicator may suggest that this drop could only be temporary.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So","og_description":"Bitcoin has now plunged under the $28,000 level, but the data of this on-chain indicator may suggest that this drop could only be temporary.","og_url":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2023-05-09T12:30:10+00:00","article_modified_time":"2024-06-11T08:50:14+00:00","og_image":[{"width":1241,"height":844,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844","type":"image\/jpeg"}],"author":"Keshav Verma","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/keshavvarma29","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Keshav Verma","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/"},"author":{"name":"Keshav Verma","@id":"https:\/\/wncen.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6"},"headline":"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So","datePublished":"2023-05-09T12:30:10+00:00","dateModified":"2024-06-11T08:50:14+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/"},"wordCount":594,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844","keywords":["bitcoin","Bitcoin Rebound","Bitcoin short-term holders","Bitcoin SOPR","Bitcoin STH SOPR","btc","btcusd"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/","url":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/","name":"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844","datePublished":"2023-05-09T12:30:10+00:00","dateModified":"2024-06-11T08:50:14+00:00","description":"Bitcoin has now plunged under the $28,000 level, but the data of this on-chain indicator may suggest that this drop could only be temporary.","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844","width":1241,"height":844,"caption":"financial stock market graph on technology abstract background represent risk of investment"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6","name":"Keshav Verma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","caption":"Keshav Verma"},"description":"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. 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 Plunge Under $28,000 Only Temporary? This Metric Suggests So","url":"http:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-plunge-28000-only-temporary-metric\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844"},"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 rebound","bitcoin short-term holders","bitcoin sopr","bitcoin sth sopr","btc","btcusd"],"dateCreated":"2023-05-09T12:30:10Z","datePublished":"2023-05-09T12:30:10Z","dateModified":"2024-06-11T08:50:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-plunge-28000-only-temporary-metric\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-plunge-28000-only-temporary-metric\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-926051128.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-926051128.jpg?fit=1241%2C844\"},\"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 rebound\",\"bitcoin short-term holders\",\"bitcoin sopr\",\"bitcoin sth sopr\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-05-09T12:30:10Z\",\"datePublished\":\"2023-05-09T12:30:10Z\",\"dateModified\":\"2024-06-11T08:50:14Z\"}<\/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\/2023\/05\/iStock-926051128.jpg?fit=1241%2C844","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/530633"}],"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=530633"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/530633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/530648"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=530633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=530633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=530633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}