Bitcoin SOPR Ratio Drops to 1.35, Hinting at Local Bottom as Profit-Taking Fades and Selling Pressure Nears Exhaustion
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COINOTAG News, citing CryptoOnchain, reported that the SOPR ratio for Bitcoin declined to about 1.35, the lowest reading since early 2024. With Bitcoin hovering near $89,700, analysts describe the move as a profit-taking reset.
As an on-chain metric derived from the Spent Output Profit Ratio, the SOPR ratio gauges whether market activity is tilt toward profits or losses. A reading at this level implies profit-taking is cooling and near-term selling pressure may ease.
Historically, cooling phases in markets have seen the SOPR ratio dip to these troughs before a local bottom forms. If a reversal materializes, it could lay the groundwork for the next orderly uptrend.
Traders should view the SOPR ratio within a broader on-chain context, combining it with liquidity signals and price action to assess risk without overreliance on a single indicator.