A CryptoQuant analyst has reported that Bitcoin’s adjusted SOPR has declined to a range of 0.92–0.94, a level typically indicative of bear market stress rather than a routine market correction. The adjusted SOPR, which measures the profit ratio of spent Bitcoin outputs while filtering out short-term holder noise, reflects long-term holder sentiment. Historically, SOPR levels below one have indicated profit-taking at losses, further confirming the current bearish outlook for Bitcoin.
Bitcoin’s adjusted SOPR drops to range associated with bear market stress
