The recent decline of cryptocurrency prices to $60,000 has placed significant psychological pressure on steadfast investors, akin to the effects of the May 2022 LUNA crash. In both situations, the 7-day Exponential Moving Average (EMA) of the Long-Term Holder Spent Output Profit Ratio (SOPR) fell below 1, signaling that long-term holders are experiencing notable losses. This shift in behavior among long-term investors aligns with a broader trend observed in bear markets, where owners move from realizing profits to accepting losses, reflecting a deeper erosion of confidence similar to previous severe downturns.
Bitcoin holders face losses similar to 2022 LUNA crash
