CryptoQuant: Bitcoin exits bottom as long-term holder SOPR tops 1
- —Long-term holder SOPR for BTC rose above 1
- —In the current cycle SOPR has not exceeded 6; cycle peaks historically form above that level
- —LTH wallets are at an all-time high and continued accumulating
- —The analyst believes a full-fledged rally is only just beginning
Why it matters: A signal in favor of the bull cycle continuing: as long as long-term holders do not take profits, selling pressure remains low.
Source: PANews