Bitcoin’s Spent Output Profitability Ratio Rises to 0.987, MVRV and Puell Multiple Indicators Show the Market Has Not Peaked Yet
Bitcoin rebounded from $90,000 after falling from a high point of $120,000 this week to $95,000. On-chain data shows that the spent output profit ratio (SOPR) of Bitcoin has risen to 0.987, indicating that short-term holders are selling at a loss. This situation has historically indicated a price rebound. Other indicators such as the market value-to-realized value ratio (MVRV) and Puell Multiple show that the market has not yet peaked, providing a low-price buying opportunity for long-term investors in this correction.
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