Viewpoint: Bitcoin Selling Pressure Near Exhaustion, Forming Intermediate Bottom

BlockBeats News, December 7th, CryptoOnchain published an analysis stating that Bitcoin's SOPR ratio (LTH-SOPR / STH-SOPR) has dropped to 1.35, the lowest level since 2024, while the price retreated to around $89,700.

1. End of Massive Sell-off
When the SOPR ratio is high, it means that Long-Term Holders (LTH) have more aggressively realized profits compared to Short-Term Holders (STH).
Now that this ratio has dropped to 1.35, it indicates that the phase of large-scale distribution of old coins has significantly receded, and the profit gap between old players and new funds is narrowing.

2. Significant Cooling of Market Sentiment
The SOPR ratio is often used as an oscillation indicator of market sentiment.
This decline signifies that the market has undergone a thorough "reset," clearing out the speculative bubble of the early cycle.

Historical data shows that in a macro bull market, a drop in the SOPR ratio to these low ranges often indicates that selling pressure is nearing its end. If this indicator stabilizes or begins to rise again around 1.35, it may suggest that a temporary bottom is forming, providing a healthier base for the next leg up.