You're making a sharp observation here by focusing on STH-SOPR instead of just price action 👀📊. Here's a refined and paraphrased version of your post to tighten it up for clarity and engagement:

While everyone’s eyes are glued to $BTC’s price drop, I’m tracking deeper indicators to assess if we’re really in bearish territory.

One metric that stood out during my analysis is the STH-SOPR (Short-Term Holders – Spent Output Profit Ratio).

📉 As prices dip, STH-SOPR hovering around 1.0 suggests that recent selling isn’t driven by fear or profit-taking — it’s neutral. No panic, no euphoria.

💡 This typically signals that Bitcoin is likely forming support, setting the stage for a potential rebound.

In short: the trend may still be up, not over. I’m staying focused on the data, not the drama.

#BTC #Bitcoin #CryptoAnalysis #OnChain #CMCQuest

Would you like a graphic to go with it? Something like a clean STH-SOPR chart or support zone visualization?