Bitcoin LTH Profitability Outpaces STHs: Is A New Bullish Phase About To Commence?

Crypto analyst with the username PelinayPA has noted a recent shift in Bitcoin traders’ profitability with potentially strong bullish implications. Notably, the premier cryptocurrency continues to trade within the $115,000 price region after earlier price gains on Thursday were followed by a correction of equal ￰0￱ Ratio Trends Up: Market Signals Point To New Bitcoin Rally In a QuickTake post on September 19, PelinayPA shares some potential insights into Bitcoin’s future trajectory based on the latest Spent Output Profit Ratio (SOPR) ￰1￱ context, the SOPR is an on-chain metric that reflects whether Bitcoin investors are selling their coins at a profit or a loss.

However, this metric can also be used to gauge the balance of profitability between long-term holders and short-term holders when we compare the SOPR Ratios of both parties, i. e, LTH/STH ￰2￱ the ratio is high (LTH > STH), it indicates that seasoned investors are more profitable, often signaling the beginning or continuation of a sustainable bull market. conversely, when the ratio is low (LTH In the present market, the LTH/STH SOPR ratio is balanced but moving upward, a sign that long-term holders are regaining their ￰3￱ suggests this could mark the early stages of a new bull cycle, with indicators pointing to $120,000 as the next major upside technical ￰4￱ Whale Accumulation Remains High In other news, US-based institutions and whales continue to accumulate substantial levels of Bitcoin regardless of price ￰5￱ analyst Darkfost reports that Coinbase Premium has turned consistently positive since April, reflecting stronger institutional demand from US traders compared to entities on other trading platforms, such as ￰6￱ the time of writing, Bitcoin trades at $115,668 after a net 0.35% loss in the past seven days.