Bitcoin profit-taking cools at September highs as holders refrain from selling
- —Weekly realized profit: $7.3 billion vs $9.1 billion in August (-19%)
- —Seven-day realized losses dropped from $2.6 billion to $1.5 billion
- —Net realized profit over seven days stood at $4.3 billion
- —STH SOPR eased from 1.028 to 1.01, signaling slower profit-taking
Why it matters: A drop in STH SOPR below 1 and negative realized P&L would be the key confirmation of a bearish shift.
Source: Bloomingbit