A quant has explained how Bitcoin may be expected to see a strong rise in the coming months based on a golden cross that has occurred in this indicator.
Bitcoin SOPR Has Just Witnessed A Bullish Crossover
As an analyst in a CryptoQuant Quicktake post pointed out, the Bitcoin Spent Output Profit Ratio (SOPR) has shown a golden crossover recently. The “SOPR” here refers to an indicator that tells us whether the BTC investors are selling their coins at a profit or loss.
This metric works by going through the transaction history of each coin being sold/transferred to see what price it was moved at last time. If this price is less than the current spot price for any token, its sale contributes to profit realization.
Similarly, transactions involving coins of the opposite type imply loss realization is occurring. The SOPR sums up these profits and losses for the entire sell supply, and determines their ratio.
When the value of this indicator is greater than 1, it means the
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