The price of Bitcoin has continued to maintain an impressive recovery trajectory following an earlier dip in the week, which saw the asset trade below the $50,000 price mark. The crypto market leader was greatly affected by a widespread decline in the global financial markets, losing over 16% of its market value, due to fears of a potential recession in the US, among other factors. However, as Bitcoin now hovers around $60,000, market experts and analysts have continued to roll out several conditions needed for the premier cryptocurrency to sustain this current positive performance.
Bitcoin To Meet Critical Short-Term Holders SOPR Resistance
In a Quicktake post on Cryptoquant, an analyst with the username tugbachain shared an insight into the Short Term Holder Spent Output Profit Ratio (STH SOPR) of the Bitcoin market.
For context, the STH SOPR is a market metric that indicates whether holders are selling their assets at a loss or profit. It is used to measure profita
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