{"id":488138,"date":"2022-04-14T19:00:59","date_gmt":"2022-04-14T19:00:59","guid":{"rendered":"https:\/\/wncen.com\/?p=488138"},"modified":"2024-06-11T13:08:35","modified_gmt":"2024-06-11T13:08:35","slug":"bitcoin-sth-sopr-breaks-1-first-time-december","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-sth-sopr-breaks-1-first-time-december\/","title":{"rendered":"Bitcoin STH SOPR Breaks Above 1 For First Time Since December"},"content":{"rendered":"

On-chain data shows the Bitcoin short-term holder SOPR has broken above one for the first time since December 2021.<\/p>\n

Bitcoin Short-Term Holders Return To Profit Once Again<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the BTC STH SOPR has once more broken past the “one” barrier.<\/p>\n

The “Spent Output Profit Ratio<\/a>” (or SOPR in short) is a Bitcoin indicator that tells us whether coins selling right now are selling at a profit or a loss.<\/p>\n

The metric works by looking at the price history of each coin being sold on the chain to see what price it last moved at.<\/p>\n

If the last price was less than the current one, then the coin has been sold at a profit. Similarly, a loss is when the current price is lesser.<\/p>\n

When the value of the Bitcoin SOPR is less than one, it means investors are, on an average, selling at a loss at the moment. On the other hand, ratio values above one imply that the overall market is realizing a profit currently.<\/p>\n

Related Reading |\u00a0Can The 600-Day MA Support Line Push Bitcoin Again?<\/a><\/em><\/strong><\/p>\n

A modified version of the indicator shows the profit ratio for only those coins that were held for less than 155 days before being sold.<\/p>\n

Such coins belong to a cohort of investors called the “short-term holders<\/a>.” The below chart shows the trend in the Bitcoin STH SOPR (30DMA) over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The indicator seems to have just crossed over the \"one\" mark recently | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the Bitcoin STH SOPR has broken above one once again over the last few days. This is the first time that short-term holders have been selling at a profit since December of last year.<\/p>\n
The significance of the SOPR equal to 1 line is that it acts as a break-even point. The mark has acted as support for the price of the crypto in the past.<\/p>\n
Related Reading |\u00a0Bitcoin Mimics Textbook Market Sentiment Cycle, What Happens When Confidence Returns?<\/a><\/em><\/strong><\/p>\n
But also, because of it being a break-even point, it has also acted as resistance before. Reaching the mark psychologically feels like getting their money “back” to investors who were in loss previously so they tend to sell around this mark, hence leading to it becoming resistance.<\/p>\n
Just a month or ago the metric retested the level, but it failed and rebounded back down. It remains to be seen now whether this time the Bitcoin STH SOPR will hold above one or not.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> trades around $41.2k, down 5% in the past week.<\/p>\n
\"Bitcoin<\/p>\n
BTC's price shows some recovery | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin short-term holder SOPR has broken above one for the first time since December 2021. Bitcoin Short-Term Holders Return To Profit Once Again As pointed out by an analyst in a CryptoQuant post, the BTC STH SOPR has once more broken past the “one” barrier. The “Spent Output Profit Ratio” (or SOPR in short) is a Bitcoin indicator that tells us whether coins selling right now are selling at a profit or a loss. The metric works by looking at the price history of each coin being sold on the chain to see what price it last moved at. If the last price was less than the current one, then the coin has been sold at a profit. Similarly, a loss is when the current price is lesser. When the value of the Bitcoin SOPR is less than one, it means investors are, on an average, selling at a loss at the moment. On the other hand, ratio values above one imply that the overall market is realizing a profit currently. Related Reading |\u00a0Can The 600-Day MA Support Line Push Bitcoin Again? A modified version of the indicator shows the profit ratio for only those coins that were held for less than 155 days before being sold. Such coins belong to a cohort of investors called the “short-term holders.” The below chart shows the trend in the Bitcoin STH SOPR (30DMA) over the past year: The indicator seems to have just crossed over the “one” mark recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin STH SOPR has broken above one once again over the last few days. This is the first time that short-term holders have been selling at a profit since December of last year. The significance of the SOPR equal to 1 line is that it acts as a break-even point. The mark has acted as support for the price of the crypto in the past. Related Reading |\u00a0Bitcoin Mimics Textbook Market Sentiment Cycle, What Happens When Confidence Returns? But also, because of it being a break-even point, it has also acted as resistance before. Reaching the mark psychologically feels like getting their money “back” to investors who were in loss previously so they tend to sell around this mark, hence leading to it becoming resistance. Just a month or ago the metric retested the level, but it failed and rebounded back down. It remains to be seen now whether this time the Bitcoin STH SOPR will hold above one or not. BTC Price At the time of writing, Bitcoin’s price trades around $41.2k, down 5% in the past week. BTC’s price shows some recovery | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":488141,"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":[428,84852,84438,85802,1119,1144],"class_list":["post-488138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-short-term-holders","tag-bitcoin-sopr","tag-bitcoin-sth-sopr","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin STH SOPR Breaks Above 1 For First Time Since December<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin short-term holder SOPR has broken above one for the first time since December 2021. 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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. 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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 STH SOPR Breaks Above 1 For First Time Since December","url":"http:\/\/wncen.com\/news\/bitcoin-sth-sopr-breaks-1-first-time-december\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-sth-sopr-breaks-1-first-time-december\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/kanchanara-dpduCacf8N0-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/kanchanara-dpduCacf8N0-unsplash-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 short-term holders","bitcoin sopr","bitcoin sth sopr","btc","btcusd"],"dateCreated":"2022-04-14T19:00:59Z","datePublished":"2022-04-14T19:00:59Z","dateModified":"2024-06-11T13:08:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin STH SOPR Breaks Above 1 For First Time Since December\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-sth-sopr-breaks-1-first-time-december\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-sth-sopr-breaks-1-first-time-december\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/kanchanara-dpduCacf8N0-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/kanchanara-dpduCacf8N0-unsplash-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 short-term holders\",\"bitcoin sopr\",\"bitcoin sth sopr\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-04-14T19:00:59Z\",\"datePublished\":\"2022-04-14T19:00:59Z\",\"dateModified\":\"2024-06-11T13:08:35Z\"}<\/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\/04\/kanchanara-dpduCacf8N0-unsplash-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/488138","targetHints":{"allow":["GET"]}}],"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=488138"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/488138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/488141"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=488138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=488138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=488138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}