CryptoQuant: Bitcoin Long-Term Holders Distribution begins, indicating the market has reached a bottom area

BlockBeats News, March 31st, CryptoQuant analyst Crypto Dan stated that Bitcoin's long-term holders' SOPR (Spent Output Profit Ratio) has dropped below 1, indicating that even hodlers are selling at a loss. Since long-term holders are the least sensitive group to short-term price swings, when they start realizing losses, this can be interpreted as a broader market capitulation.

At this point, short-term holders have likely exited the market early or have suffered significant losses. In other words, the majority of market participants are currently in a state of loss. Historically, this situation often leads to selling pressure gradually drying up, forming a market bottom or an area close to a long-term low. Although it may be too early to determine that the current market is the absolute bottom, when losses become widespread, it often represents the final stage of fear sentiment and the beginning of opportunities.