On-chain data shows the Bitcoin long-term holder SOPR has dropped to March 2020 levels as the price of the crypto crashes below $24k.
Bitcoin Long-Term Holder SOPR Plunges Deeper Below One
ដូចដែលបានចង្អុលបង្ហាញដោយអ្នកវិភាគនៅក្នុងគ្រីបតូក្វាន់ ក្រោយ, BTC long-term holders are now realizing a similar level of loss as during March 2020.
"សមាមាត្រប្រាក់ចំណេញដែលបានចំណាយ” (or SOPR in brief) is an indicator that tells us whether Bitcoin investors are selling at a profit or at a loss right now.
The metric works by looking at the on-chain history of each coin being sold to see what price it was previously moved at.
If this last price was less than the current value of the crypto, then that particular coin has now been sold at a profit.
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On the other hand, the previous selling value being more than the latest price would imply the coin realized a loss.
When the value of SOPR is greater than one, it means the overall BTC market is selling at a profit at the moment. Values less than one, on the contrary, imply that investors as a whole are realizing losses right now.
"អ្នកកាន់រយៈពេលវែង” (LTHs) are those Bitcoin investors who hold their coins for at least 155 days without selling them.
Here is a chart that shows the trend in the BTC SOPR specifically for these LTHs:
The value of the 20-day MA LTH SOPR looks to have plunged down recently | Source: គ្រីបតូក្វាន់
As you can see in the above graph, the Bitcoin long-term holder SOPR dropped below one in value just a while ago, showing that LTHs have been selling at a loss recently.
The degree of LTH loss realization right now is the same as it was back in March 2020, following the crash due to COVID-19. The crypto also hit a bottom around then.
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The long-term holders now suffering from similar pain as back then may suggest that the market may soon see a bottom this time as well.
តម្លៃ BTC
នៅពេលសរសេរ។ តម្លៃរបស់ Bitcoin អណ្តែតនៅជុំវិញ $23.5k ធ្លាក់ចុះ 24% ក្នុងរយៈពេលប្រាំពីរថ្ងៃចុងក្រោយនេះ។ ក្នុងរយៈពេលមួយខែកន្លងមកនេះ គ្រីបតូបានបាត់បង់តម្លៃ 19%។
តារាងខាងក្រោមបង្ហាញពីនិន្នាការតម្លៃកាក់ក្នុងរយៈពេលប្រាំថ្ងៃចុងក្រោយនេះ។
Looks like the value of the crypto has crashed down over the last couple of days | Source: BTCUSD ស្តីពី TradingView
Today, Bitcoin plummeted below the $24k mark for the first time since December 2020, over 18 months ago. Currently, it’s unclear whether the crash has passed or if the coin will decline further still.
Featured image from Unsplash.com, charts from TradingView.com, CryptoQaunt.com
Source: https://www.newsbtc.com/news/bitcoin/bitcoin-long-term-holders-march-2020-losses-btc-crashes/