Bitcoin’s SOPR Metric Shows Longest Bullish Streak of 2026
- Bitcoin’s SOPR metric has remained above the breakeven point of 1 since August 19, marking three consecutive weeks of bullish momentum.
- Currently, the SOPR measures at approximately 1.002, indicating that most coins are being moved at a profit.
- Short-term holders show signs of increased profitability, suggesting a potential recovery phase for Bitcoin.
- Despite this positive trend, analyst David Puell warns of possible downside risk for Bitcoin prices in the near future.
- Puell emphasizes that sustained bullish SOPR readings are necessary to confirm a long-term recovery and avoid new lows.
The sustained performance of Bitcoin’s SOPR metric indicates a shift towards bullish market conditions, which may reflect investor confidence returning to the cryptocurrency market. However, analysts caution that further evidence is needed before concluding that bear market pressures have fully subsided.
With the SOPR remaining above its breakeven level for three weeks, it suggests an optimistic outlook for profitability among investors, although caution remains regarding potential price declines ahead. (Source)
