{"id":494157,"date":"2022-06-26T19:00:53","date_gmt":"2022-06-26T19:00:53","guid":{"rendered":"https:\/\/ktsl888.com\/?p=494157"},"modified":"2024-06-11T14:21:03","modified_gmt":"2024-06-11T14:21:03","slug":"why-pain-may-not-over-bitcoin-holders-yet","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/why-pain-may-not-over-bitcoin-holders-yet\/","title":{"rendered":"Why Pain May Not Be Over For Bitcoin Holders Just Yet"},"content":{"rendered":"

Past trend of the Bitcoin long-term holder SOPR (EMA 30) may suggest that BTC holders may face more pain in the coming months.<\/p>\n

Bitcoin Long-Term Holder SOPR Has Dropped Below “One” Recently<\/h2>\n

As explained by an analyst in a CryptoQuant post<\/a>, BTC investors may be in for a frustrating few months if history is anything to go by.<\/p>\n

The “spent output profit ratio<\/a>” (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a profit or at a loss right now.<\/p>\n

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

If the previous selling price of any coin was less than the current value of BTC, then the coin has just been sold for a profit.<\/p>\n

On the other hand, the past value being more than the latest price of the crypto would imply the coin has moved at a loss.<\/p>\n

When the value of the SOPR is greater than one, it means the overall Bitcoin market is selling at a profit right now.<\/p>\n

Related Reading |\u00a0Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?<\/a><\/em><\/strong><\/p>\n

On the other hand, values of the indicator less than one imply investors as a whole are realizing some loss at the moment.<\/p>\n

Now, the “long-term holder<\/a>” (LTH) group includes any Bitcoin investor who has been holding their coins since at least 155 days ago without moving or selling.<\/p>\n

The below chart shows the trend in the SOPR over the history of the crypto specifically for these LTHs.<\/p>\n

\"Bitcoin<\/p>\n

Looks like the 30-day exponential-MA value of the indicator has gone down recently | Source: CryptoQuant<\/a><\/pre>\n
In the above graph, the quant has highlighted all the regions of relevant trend for the Bitcoin long-term holder SOPR.<\/p>\n
It seems like during past bottoms, the indicator’s EMA-30 value has gone below one and trended sideways there for a while (except for the COVID-19 crash, where the metric didn’t stay in the zone for too long).<\/p>\n
Related Reading |\u00a0Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?<\/a><\/em><\/strong><\/p>\n
Recently, the LTH SOPR’s value has once again gone below one, suggesting long-term holders are realizing losses right now.<\/p>\n
The analyst notes that while such capitulation events have historically lead to bottom formations, it may still be a while, even months, before a low is actually found.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $21.4k, up 11% in the past week. Here is a chart that shows the trend in the value of the coin over the last five days:<\/p>\n
\"Bitcoin<\/p>\n
The price of the coin seems to have surged up over the last few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Past trend of the Bitcoin long-term holder SOPR (EMA 30) may suggest that BTC holders may face more pain in the coming months. Bitcoin Long-Term Holder SOPR Has Dropped Below “One” Recently As explained by an analyst in a CryptoQuant post, BTC investors may be in for a frustrating few months if history is anything to go by. The “spent output profit ratio” (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a profit or at a loss right now. The metric works by going through the transaction history of each coin being sold on the chain, to see what price it was last moved at. If the previous selling price of any coin was less than the current value of BTC, then the coin has just been sold for a profit. On the other hand, the past value being more than the latest price of the crypto would imply the coin has moved at a loss. When the value of the SOPR is greater than one, it means the overall Bitcoin market is selling at a profit right now. Related Reading |\u00a0Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending? On the other hand, values of the indicator less than one imply investors as a whole are realizing some loss at the moment. Now, the “long-term holder” (LTH) group includes any Bitcoin investor who has been holding their coins since at least 155 days ago without moving or selling. The below chart shows the trend in the SOPR over the history of the crypto specifically for these LTHs. Looks like the 30-day exponential-MA value of the indicator has gone down recently | Source: CryptoQuant In the above graph, the quant has highlighted all the regions of relevant trend for the Bitcoin long-term holder SOPR. It seems like during past bottoms, the indicator’s EMA-30 value has gone below one and trended sideways there for a while (except for the COVID-19 crash, where the metric didn’t stay in the zone for too long). Related Reading |\u00a0Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead? Recently, the LTH SOPR’s value has once again gone below one, suggesting long-term holders are realizing losses right now. The analyst notes that while such capitulation events have historically lead to bottom formations, it may still be a while, even months, before a low is actually found. BTC Price At the time of writing, Bitcoin’s price floats around $21.4k, up 11% in the past week. Here is a chart that shows the trend in the value of the coin over the last five days: The price of the coin seems to have surged up over the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":494165,"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":[83598,428,84666,86008,84438,1119],"class_list":["post-494157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bcusd","tag-bitcoin","tag-bitcoin-long-term-holders","tag-bitcoin-lth-sopr","tag-bitcoin-sopr","tag-btc"],"acf":[],"yoast_head":"\nWhy Pain May Not Be Over For Bitcoin Holders Just Yet<\/title>\n<meta name=\"description\" content=\"Past trend of the Bitcoin long-term holder SOPR (EMA 30) may suggest that BTC holders may face more pain in the coming months. 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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:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why Pain May Not Be Over For Bitcoin Holders Just Yet","url":"http:\/\/ktsl888.com\/news\/why-pain-may-not-over-bitcoin-holders-yet\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/why-pain-may-not-over-bitcoin-holders-yet\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bcusd","bitcoin","bitcoin long-term holders","bitcoin lth sopr","bitcoin sopr","btc"],"dateCreated":"2022-06-26T19:00:53Z","datePublished":"2022-06-26T19:00:53Z","dateModified":"2024-06-11T14:21:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why Pain May Not Be Over For Bitcoin Holders Just Yet\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/why-pain-may-not-over-bitcoin-holders-yet\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/why-pain-may-not-over-bitcoin-holders-yet\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bcusd\",\"bitcoin\",\"bitcoin long-term holders\",\"bitcoin lth sopr\",\"bitcoin sopr\",\"btc\"],\"dateCreated\":\"2022-06-26T19:00:53Z\",\"datePublished\":\"2022-06-26T19:00:53Z\",\"dateModified\":\"2024-06-11T14:21:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/494157"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=494157"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/494157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/494165"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=494157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=494157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=494157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}