BlockBeats News, February 6th, On-chain data analyst Murphy posted on social media that as of February 5th, several key Long-Term Holders (LTH) metrics had approached critical levels: Both the LTH-RPRL (Realized Profit/Loss Ratio) and LTH-SOPR (Spent Output Profit Ratio) 7-day EMAs had fallen to 1, indicating that long-term holders were overall no longer profitable and were on the verge of a structural capitulation.
At the same time, a large amount of “long-term and in-loss” chips flowed into exchanges, possibly signaling that the market is approaching the “straw that breaks the camel’s back” moment. Once LTH holders start to collapse across the board, it often corresponds to the most intense price swing phase of each bear market cycle, which is also the darkest hour before the dawn.
