This Historic Bitcoin On-Chain Support Level Is Still Not Lost

On-chain data shows the historical 20-Day MA Bitcoin aSOPR support level has continued to hold so far.

Bitcoin 20-Day MA aSOPR Rebounds Off Historical Support Line

As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR recently retested its 8-year old support.

The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the average Bitcoin investor is selling at a profit or at a loss right now.

When the value of this metric is greater than 1, it means the overall market is moving coins at some profit currently.

On the other hand, values of the indicator less than the threshold suggest holders as a whole are realizing some loss with their selling at the moment.

Naturally, SOPR values exactly equal to 1 imply the investors are just breaking even on their investment right now.

“Adjusted SOPR” (aSOPR) is a modified version of this metric that excludes from the data any selling of coins that was done within 1 hour of first acquiring said coins.

Here is a chart that shows the trend in the 20-day moving average Bitcoin aSOPR over the last several years:

Looks like the 20-day MA value of the metric has sharply declined in recent days Source: BTCUSD on TradingView
Featured image from André François McKenzie on Unsplash.com, charts from TradingView.com, CryptoQuant.com

On-chain data shows the historical 20-Day MA Bitcoin aSOPR support level has continued to hold so far.

Bitcoin 20-Day MA aSOPR Rebounds Off Historical Support Line

As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR recently retested its 8-year old support.

The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the average Bitcoin investor is selling at a profit or at a loss right now.

When the value of this metric is greater than 1, it means the overall market is moving coins at some profit currently.

On the other hand, values of the indicator less than the threshold suggest holders as a whole are realizing some loss with their selling at the moment.

Naturally, SOPR values exactly equal to 1 imply the investors are just breaking even on their investment right now.

Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance

“Adjusted SOPR” (aSOPR) is a modified version of this metric that excludes from the data any selling of coins that was done within 1 hour of first acquiring said coins.

Here is a chart that shows the trend in the 20-day moving average Bitcoin aSOPR over the last several years:

Looks like the 20-day MA value of the metric has sharply declined in recent days