Yesterday evening, on July 3rd, the SOPR (Spent Output Profit Ratio) for long-term holders indicated values exceeding 10, indicating substantial profits as these coins were transferred on the blockchain. This elevated SOPR aligns with a price correction, suggesting that long-term investors have realized profits surpassing tenfold of their initial investments.
Long-term holders of Bitcoin have reaped substantial profits, which have played a role in the recent price decline.
“The most significant activity was noted among investors who held their Bitcoin for 5-7 years.” – By @IT_Tech_PL
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— CryptoQuant.com (@cryptoquant_com)
July 4, 2024
In-depth Analysis
The Spent Output Age Bands chart illustrates the age categories of coins that have been moved, highlighting notable activity among holders who have retained their Bitcoins for 5-7 years. This considerable movement by seasoned investors has had a notable impact on the market, contributing to the decline in Bitcoin’s price.
It appears that long-term investors have capitalized on significant profits, influencing the downward trend in Bitcoin’s price. Monitoring their behavior closely is crucial, as continued selling may exacerbate further declines in the market. Market participants should maintain vigilance and be mindful of potential ongoing volatility in the days ahead.
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