• Bitcoin’s SOPR suggested that its short and long-term holders were holding at a profit.
• Its MVRV ratio sat at its highest level since March 2022.

With Bitcoin [BTC] trading at multi-month highs, the Spent Output Profit Ratio (SOPR) for its short-term holders (STH) climbed to its highest level since May, data from CryptoQuant showed. 

How much are 1,10,100 BTCs worth today?

BTC’s SOPR measures the degree of profit and losses incurred by the coin’s holders over a given period of time. 

When SOPR is higher than one within a particular period, this means that those that sold at the current price sold at a profit. Conversely, when the metric is less than one within a specified window period, those that sold within that time frame incurred losses.

At press time, the STH-SOPR was 1.03. Data tracked by CryptoQuant showed that this has climbed steadily since 19 October, suggesting all transactions made by investors that have held BTC for less than 155 days have returned a profit.

During that period, BTC’s value has jumped by 22%, data from CoinMarketCap revealed. 

Commenting on the profit-taking activity of BTC’s STH in a new

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Author: Abiodun Oladokun

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