Bitcoin aSOPR Indicates Potential for Further Growth
- The Bitcoin Adjusted Spent Output Profit Ratio (aSOPR) has been consolidating between converging trendlines for nearly two years.
- In previous cycles, Bitcoin bull runs topped as the aSOPR reached a high level, indicating significant profit realization.
- Current aSOPR levels have not yet reached the highs seen in the last two cycles, suggesting potential for further growth.
- BTC is trading around $86,300, down by approximately 9% over the past week.
The Bitcoin aSOPR’s consolidation suggests that the market may not have hit its peak yet, unlike previous cycles where peaks coincided with high profit realization levels on this metric.
With Bitcoin currently trading at $86,300 and experiencing a recent decline of about nine percent over the last week, market watchers are keenly observing whether this consolidation phase will lead to another upward breakout or continued stagnation. (Source)
