Bitcoin aSOPR Rebounds From “1” As Weakness Remains In Market

Data shows the Bitcoin aSOPR has recently been rejected from the neutral level as weakness continues to clutch the market. Bitcoin aSOPR Rebounds From The “1” Mark As Investors Sell The Rally As per the latest weekly report from Glassnode, the “get my money back” effect strikes the crypto once again as weakness continues in the market. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the overall Bitcoin market is currently selling at a profit or at a loss. When the value of this metric is greater than one, it means the average investor is selling BTC at a profit right now. On the other hand, the indicator’s value being below the mark implies the market as a whole is realizing some loss at the moment. Related Reading: Bitcoin Stablecoin Supply Ratio Is Approaching A “Buy” Signal A modified version of the SOPR is the “Adjusted SOPR” (aSOPR), which filters out transactions of all those coins that moved again within an hour of being last transferred. This helps remove noise that doesn’t have any noticeable impacts on the market. Now, here is a chart that shows the trend in the Bitcoin aSOPR over the past couple of years: Looks like the value of the metric has gone down in recent days | Source: Glassnode's The Week Onchain - Week 35, 2022 As you can see in the above graph, the Bitcoin aSOPR seems to have followed specific patter...