Last week, Bitcoin saw consistent upward momentum, leading to the asset breaching multiple resistances to achieve a peak of $93,477 finally. However, ever since, BTC has seen a price decrease and appears to maintain stability above $90,000 while showing signs of controlled market sentiment. Amid this price performance, a CryptoQuant analyst known as G a a h recently shared his perspective on Bitcoin’s current market behavior, focusing on an important metric such as the Short-Term Holders Spent Output Profit Ratio (STH SOPR) to reveal whether the asset still has more room for growth. Related Reading: Bitcoin Exchange Reserves Hit 5-Year Low—What Does This Signal? What The STH SOPR Metric Suggest For Bitcoin The Short-Term Holders Spent Output Profit Ratio metric, which tracks the profitability of Bitcoin held by short-term holders, has revealed a trend of moderate optimism in the market, according to G a a h. The analyst elaborated that unlike past cycles marked by euphoric price spikes, the STH SOPR remains within a “middle region,” far from indicating extreme greed. This suggests that while some inve ..
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