BlockBeats News, December 7th, CryptoOnchain published an analysis stating that Bitcoin’s SOPR ratio (LTH-SOPR / STH-SOPR) has dropped to 1.35, the lowest level since 2024, while the price retreated to around $89,700.
1. End of Massive Selling Pressure
When the SOPR ratio is high, it means that long-term holders (LTH) have been taking profits more aggressively than short-term holders (STH).
Now that this ratio has dropped to 1.35, it indicates that the large-scale distribution phase of old coins has significantly receded, and the profit gap between old players and new funds is narrowing.
2. Significant Cooling of Market Sentiment
The SOPR ratio is often used as an oscillation indicator of market sentiment.
This decline signifies that the market has undergone a thorough “reset,” clearing out the speculative bubbles of the early cycle.
Historical data shows that in a macro bull market, a drop in the SOPR ratio to these low ranges often signals that selling pressure is nearing its end. If this indicator stabilizes or trends upward around 1.35, it may imply that a temporary bottom is forming, providing a healthier foundation for the next leg up.
