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Search results for SOPR

Crypto

Long-term bitcoin whale moves 5,908 BTC after 8 years

A bitcoin whale that had been inactive for eight years moved 5,908 BTC to a new wallet, with the holding now valued at $382.67 million. The wallet had shown no activity since around 2018, when the holdings were valued at $99.64 million and bitcoin traded near $16,865. With bitcoin around $64,700, the unrealised gain is estimated at $283.0 million. Analysts and commentators focused on timing, on-chain indicators and signs of accumulation.

Crypto

Bitcoin bottom signal lights up again as on-chain metrics send mixed messages

Bitcoin has re-entered a reversal zone similar to the 2022 bear-market bottom, an analysis said. Analyst Frank said a “typical Bitcoin bottom” is forming as the price moves toward $65,000, citing the 200-week simple moving average and related indicators, including a 9th decile zone. He also pointed to short-term holder SOPR turning positive as a bullish sign. CryptoQuant, however, said stronger bottoms often involve a deeper SOPR drop.

Crypto

Bitcoin tests $60,000 support as dollar, yields pressure persists

Bitcoin has entered a deep undervaluation zone on on-chain indicators, but whether the $60,000 support holds depends on the dollar and U.S. Treasury yields, an analysis said. Glassnode cited a drop in the dollar index below 99 or a decline in the 10-year U.S. yield to the 4.2 percent range as conditions for a rebound. It said spot demand and corporate buying have weakened, while options markets price greater downside risk.