Yesterday evening, on July 3rd, the Spent Output Profit Ratio (SOPR) for long-term holders showed values above 10, indicating that these coins were transferred on the blockchain with substantial profits. This strong SOPR is associated with a price correction, suggesting that long-term investors have made profits exceeding 10 times their initial investment.
Long-term Bitcoin holders who have held their coins for 5-7 years have been particularly active. This movement from experienced investors has had a significant impact on the market, leading to a decrease in Bitcoin’s price.
It is evident that long-term investors have realized considerable profits, contributing to the decline in Bitcoin’s price. It is essential to closely monitor their actions, as continued selling could result in further price drops. Market participants should remain vigilant and consider the possibility of ongoing volatility in the upcoming days.
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