The Short-Term Output Profit Ratio (STH-SOPR) provides critical insights into the profitability of spent outputs held between 1 hour and 155 days. This metric is essential for understanding the behavior of short-term holders in the crypto market. When STH-SOPR is above 1, it signifies that holders are selling at a profit. Conversely, a value below 1 indicates sales at a loss, while a value of 1 represents neutral transactions. Since February, data shows a trend of selling at losses, reflecting heightened panic among short-term investors. This underscores the volatility and sensitivity of the market to news and developments.