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
ដូចដែលបានចង្អុលបង្ហាញដោយ CryptoQuant ក្រោយ, selling pressure in the market still looks to be high as long-term holders are also looking to sell.
"សមាមាត្រប្រាក់ចំណេញដែលបានចំណាយ” 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 “អ្នកកាន់រយៈពេលវែង” (LTH) group, who hold their coins for at least 155 days before selling.
ការអានដែលទាក់ទង | សញ្ញាធ្លាក់ចុះ Bitcoin: ត្រីបាឡែនបង្កើនការបោះចោល
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: គ្រីបតូក្វាន់
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.
ការអានដែលទាក់ទង | អត្រាមូលនិធិធ្លាក់ចុះដល់កម្រិតទាបប្រចាំឆ្នាំ បន្ទាប់ពីការធ្លាក់ចុះរបស់ Bitcoin ក្រោម $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.
តម្លៃ BTC
នៅពេលសរសេរ។ តម្លៃរបស់ Bitcoin អណ្តែតនៅជុំវិញ $29.4k កើនឡើង 3% ក្នុងរយៈពេលប្រាំពីរថ្ងៃចុងក្រោយ។ ក្នុងរយៈពេលមួយខែកន្លងមកនេះ គ្រីបតូបានបាត់បង់តម្លៃ 28%។
តារាងខាងក្រោមបង្ហាញពីនិន្នាការតម្លៃកាក់ក្នុងរយៈពេលប្រាំថ្ងៃចុងក្រោយនេះ។
Looks like the price of the crypto has seen some decline over the past two days | Source: BTCUSD ស្តីពី 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.
រូបភាពលេចធ្លោពី Unsplash.com, គំនូសតាងពី TradingView.com, CryptoQuant.com
Source: https://www.newsbtc.com/news/bitcoin/bitcoin-selling-long-term-holder-sopr-up/