{"id":498385,"date":"2022-08-11T19:00:48","date_gmt":"2022-08-11T19:00:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=498385"},"modified":"2024-06-11T14:22:25","modified_gmt":"2024-06-11T14:22:25","slug":"bitcoin-asopr-fails-retest-historical-bull-bear","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-asopr-fails-retest-historical-bull-bear\/","title":{"rendered":"Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction"},"content":{"rendered":"<p>On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets.<\/p>\n<h2>Bitcoin aSOPR Fails Retest Of The &#8220;Value=1&#8221; Line<\/h2>\n<p>As pointed out by an analyst in a <a href=\"https:\/\/cryptoquant.com\/quicktake\/62f364969be4562e0e58f501-HODLers-are-escaping-the-market-at-break-even\" rel=\"nofollow\">CryptoQuant<\/a> post, the BTC aSOPR has been rejected from the breakeven mark recently.<\/p>\n<p>The &#8220;<a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-selling-long-term-holder-sopr-up\/\">Spent Output Profit Ratio<\/a>&#8221; (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a loss or at a profit right now.<\/p>\n<p>The metric works by looking at the on-chain history of each coin being sold to see what price it was last moved at.<\/p>\n<p>If the previous selling price of any coin was less than the current value of BTC, then that particular coin has just been sold at a profit. While if it&#8217;s otherwise, then the coin realized some loss.<\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\"><strong><em>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-futures-loses-300k-long-rally-stop-soon\/\">Ethereum Investors Close 300k Long Positions on Bitfinex, Rally To Stop Soon?<\/a><\/em><\/strong><\/div>\n<p>A modified version of this indicator, the &#8220;Adjusted SOPR&#8221; (aSOPR), excludes from its calculations all those coins that were held for less than 1 hour before being sold. The benefit of this modification is that it removes all noise from the data that wouldn&#8217;t have had any significant implications on the market.<\/p>\n<p>Now, here is a chart that shows the trend in the Bitcoin aSOPR over the past coupe of years:<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone aligncenter\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/2008\/quicktake\/qcldtEkgz_1cd7f688f169f12a667db976ce7543e91a18051379d388ee20a0107b7758988c.png?resize=1280%2C620&#038;ssl=1\" alt=\"Bitcoin aSOPR \" width=\"1280\" height=\"620\"><\/p>\n<pre style=\"text-align: center\">Looks like the value of the metric has been below one in recent days | Source: <a href=\"https:\/\/cryptoquant.com\/quicktake\/62f364969be4562e0e58f501-HODLers-are-escaping-the-market-at-break-even\" rel=\"nofollow\">CryptoQuant<\/a><\/pre>\n<p>When the value of the aSOPR is greater than one, it means the average investor is selling at a profit right now. On the other hand, the metric being lesser than the threshold suggests the overall market is moving coins at a loss.<\/p>\n<p>As you can see in the above graph, the analyst has marked the relevant zones of trend for the Bitcoin aSOPR.<\/p>\n<p>It seems like during bull markets, the &#8220;1&#8221; value of the metric has acted as support, while during bears it has provided resistance.<\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\"><strong><em>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/glassnode-bitcoin-long-term-holders-distribution\/\">Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently<\/a><\/em><\/strong><\/div>\n<p>The significance of this line is that its the breakeven mark for investors as at this value holders are just breaking even on their selling.<\/p>\n<p>During bulls, investors think of this line as a good buying opportunity, but in bears they see it as an ideal selling point.<\/p>\n<p>Recently, the aSOPR attempted a retest of this mark, however, it was rejected back into the loss zone. If the historical pattern is anything to go by, this current trend would mean Bitcoin is still stuck in a <a href=\"https:\/\/ktsl888.com\/news\/company\/top-5-new-cryptocurrency-to-invest-in-during-the-crypto-bear-market\/\">bear market<\/a>.<\/p>\n<h2>BTC Price<\/h2>\n<p>At the time of writing, <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-surges-6-pc-24k\/\">Bitcoin&#8217;s price<\/a> floats around $24.5k, up 7% in the past week.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-498395 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/chart-9.png?resize=460%2C160\" alt=\"Bitcoin Price Chart\" width=\"460\" height=\"160\"><\/p>\n<pre style=\"text-align: center\">The value of the crypto has surged up during the past day | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">BTCUSD on TradingView<\/a><\/pre>\n<pre>Featured image from Peter Neumann on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets. Bitcoin aSOPR Fails Retest Of The &#8220;Value=1&#8221; Line As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR has been rejected from the breakeven mark recently. The &#8220;Spent Output Profit Ratio&#8221; (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a loss or at a profit right now. The metric works by looking at the on-chain history of each coin being sold 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 that particular coin has just been sold at a profit. While if it&#8217;s otherwise, then the coin realized some loss. Related Reading: Ethereum Investors Close 300k Long Positions on Bitfinex, Rally To Stop Soon? A modified version of this indicator, the &#8220;Adjusted SOPR&#8221; (aSOPR), excludes from its calculations all those coins that were held for less than 1 hour before being sold. The benefit of this modification is that it removes all noise from the data that wouldn&#8217;t have had any significant implications on the market. Now, here is a chart that shows the trend in the Bitcoin aSOPR over the past coupe of years: Looks like the value of the metric has been below one in recent days | Source: CryptoQuant When the value of the aSOPR is greater than one, it means the average investor is selling at a profit right now. On the other hand, the metric being lesser than the threshold suggests the overall market is moving coins at a loss. As you can see in the above graph, the analyst has marked the relevant zones of trend for the Bitcoin aSOPR. It seems like during bull markets, the &#8220;1&#8221; value of the metric has acted as support, while during bears it has provided resistance. Related Reading: Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently The significance of this line is that its the breakeven mark for investors as at this value holders are just breaking even on their selling. During bulls, investors think of this line as a good buying opportunity, but in bears they see it as an ideal selling point. Recently, the aSOPR attempted a retest of this mark, however, it was rejected back into the loss zone. If the historical pattern is anything to go by, this current trend would mean Bitcoin is still stuck in a bear market. BTC Price At the time of writing, Bitcoin&#8217;s price floats around $24.5k, up 7% in the past week. The value of the crypto has surged up during the past day | Source: BTCUSD on TradingView Featured image from Peter Neumann on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":498398,"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":[428,86574,7104,86575,86576,1119,1144],"class_list":["post-498385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-asopr","tag-bitcoin-bear-market","tag-bitcoin-bull-bear-junction","tag-bitcoin-retest","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets. 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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. 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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":"Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction","url":"http:\/\/ktsl888.com\/news\/bitcoin-asopr-fails-retest-historical-bull-bear\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-asopr-fails-retest-historical-bull-bear\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/peter-neumann-JZRlnfsdcj0-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/peter-neumann-JZRlnfsdcj0-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":["bitcoin","bitcoin asopr","bitcoin bear market","bitcoin bull-bear junction","bitcoin retest","btc","btcusd"],"dateCreated":"2022-08-11T19:00:48Z","datePublished":"2022-08-11T19:00:48Z","dateModified":"2024-06-11T14:22:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-asopr-fails-retest-historical-bull-bear\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-asopr-fails-retest-historical-bull-bear\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/peter-neumann-JZRlnfsdcj0-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/peter-neumann-JZRlnfsdcj0-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\":[\"bitcoin\",\"bitcoin asopr\",\"bitcoin bear market\",\"bitcoin bull-bear junction\",\"bitcoin retest\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-08-11T19:00:48Z\",\"datePublished\":\"2022-08-11T19:00:48Z\",\"dateModified\":\"2024-06-11T14:22:25Z\"}<\/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\/08\/peter-neumann-JZRlnfsdcj0-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/498385","targetHints":{"allow":["GET"]}}],"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=498385"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/498385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/498398"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=498385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=498385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=498385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}