While everyone is watching $BTC and other declining crypto assets, I am observing other indicators to see if we are in the hands of bears.
I have been reviewing different parameters and analyses.
One thing caught my attention, and that is STH-SOPR (Spent Output Profit Ratio for Short-Term Holders).
With the price drop, a SOPR around 1 suggests that selling in the market is neutral, with no fear-driven sales or profit-taking sales.
This could only mean that $BTC will form a support here before continuing towards an upward trend.