According to CryptoQuant analyst Oro Crypto, Bitcoin’s adjusted SOPR (Spent Output Profit Ratio) has remained above 1 for nine consecutive trading days since May 1, indicating sustained profit-taking sales in the market. An aSOPR reading above 1 means that bitcoins being spent on-chain are, on average, being sold at a profit, while readings below 1 indicate losses. The analyst noted that the continuity of this signal over nine days reduces noise and reflects a substantial shift in market structure, with the market demonstrating sufficient absorption capacity for profit-taking pressure without immediate price deterioration.
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