Bitcoin Short-Term Holders SOPR Reveals Upside Potential

The Short-Term Holders SOPR index is specifically calculated for those who have held Bitcoin for more than 1 hour but less than 155 days.

In simple terms, it is an indicator that reflects whether short-term holders are in profit or loss compared to when they initially held Bitcoin.

If this index is greater than 1, it means that the proportion of coins held by short-term holders that are in profit is relatively high in short-term investments;

Conversely, if this index is below 1, we can consider that the proportion of coins in loss is prevailing. Currently, even though the price of Bitcoin has risen to $70,000, the value of this Short-Term Holders SOPR index is only 1.017%,

indicating that short-term holders are only seeing slight profits, and the market has not shown signs of overheating. During a stable period of 2 years and 7 months, a value of 1.03% indicates that the market is overheating.

So, before reaching this overheating value, there may still be room for Bitcoin's price to continue to grow. 👗👇

If Bitcoin's price breaks through a higher point and the Short-Term Holders SOPR value rises rapidly, we can basically conclude that a comprehensive upward rebound has begun.

However, everyone should be aware that the outcome of the U.S. presidential election could very well become a significant turning point for the price trends of various assets, including Bitcoin. When dealing with this situation, it is essential to fully consider the inherent risks.