Bitcoin Short-Term Holders Flip to Losses as SOPR Falls Below 1, Price Holds Near $115K
Bitcoin SOPR, a key on-chain metric showing short-term holders’ profit ratios, has dipped below 1 for the first time since January as Bitcoin short-term holders realize losses amid a recent $10,000 pullback. This SOPR drop signals either a cleaning phase before a fresh rally or potential momentum slowdown. Meanwhile, Bitcoin exchange netflow has turned more negative, reaching -3.4K BTC/day, indicating traders are buying the dip. Bitcoin price is consolidating near $115,000, close to its 50-day moving average; extended STH losses often precede deeper corrections toward the 100-day MA at $111,000 or the 200-day MA near $100,400. Key support sits at $115,900 and resistance at $123,200. Traders should watch Bitcoin SOPR and moving averages for signs of a rapid rebound or further bearish pressure.
Bullish
The dip of Bitcoin SOPR below 1 indicates short-term holders are realizing losses in the $10,000 pullback, which often serves as a cleansing phase ahead of a new uptrend. Combined with negative exchange netflow of -3.4K BTC/day—signaling dip buying—the on-chain data suggests accumulation at key support near the 50-day MA around $115K. While extended STH losses can lead to deeper corrections toward the 100-day and 200-day moving averages, the current setup, marked by net accumulation and solid technical support at $115,900, points to a higher probability of a rebound rather than sustained bearish pressure. Therefore, traders may find bullish opportunities on dip bounces in the short term, with the potential for a continued rally if Bitcoin SOPR recovers above 1.