Is Bitcoin Yet To Top In This Cycle? What aSOPR Suggests

Bitcoin has been in freefall recently, but this popular indicator is yet to reach the same highs as the last two cycles. Is the real top still ahead for the asset? Bitcoin aSOPR Has Been Consolidating For The Last Two Years As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin aSOPR has been consolidating between converging trendlines for nearly two years. The Spent Output Profit Ratio (SOPR) is an indicator that tells us whether the BTC investors are selling their coins at a profit or loss. Related Reading: USDC Floods Exchanges: Are Traders Buying The Bitcoin Crash? When the value of this metric is greater than 1, it means the average holder is transferring their coins at some net profit on the blockchain. On the other hand, the indicator being below this threshold implies the dominance of loss taking on the network. Naturally, the SOPR being exactly equal to 1 suggests profit realization is canceling out loss realization. In other words, the investors as a whole