The price of Bitcoin $BTC first reached $100,000 on Thursday, December 5. The Arkham Intelligence platform reported that this event prompted Grayscale, the issuer of the Bitcoin ETF, to sell BTC worth $150 million.

BlackRock, meanwhile, took a different approach. The day after Bitcoin hit the round mark, the investment giant purchased BTC worth $750 million, demonstrating confidence in the long-term prospects of the asset.

The Spending Output Profit Ratio (SOPR) indicates that the price of Bitcoin may continue to rise. It is calculated by dividing the profit of long-term holders (LTH) by the profit of short-term holders (STH).

If the ratio is high, LTH have more profit than STH. In this case, the asset's price is close to its peak. However, according to CryptoQuant, the SOPR of Bitcoin has dropped to 1.45, indicating an advantage for STH. This means that BTC may continue to rise. $BNB $TRX #2024withBinance