Bitcoin may erase some of its losses as long as some key metrics maintain an extended stay in their positions.The STH-SOPR is one of the reasons for this prediction. STH stands for Short-Term Holder. SOPR is an acronym for Spent Output Profit Ratio .If the value is below 1, it indicates the holders are selling at a loss. However, values above 1 suggest that they are selling at a loss., that the reading was exactly 0.99. This reading makes it a crucial point for BTC, as it could go either ways.
In past times, the reading below 1 marked the end of a downtrend. Therefore, if the STH-SOPR remains below the threshold for some time, Bitcoin’s price could be getting ready to erase some of its recent losses.would not come to pass. But it means that the value of the coin might not slip as low $54,000 before a reversal to the upside begins.This metric compares the addresses that bought more than 1% of the 24-hour trading volume, and those that sold more than 1% within the same period.
As of this writing, the Bulls And Bears indicator was +2 in favor of bulls. While this might not have an immediate effect on BTC, sustaining the position over the coming days to weeks could help Bitcoin correction end.Should this be the case, Bitcoin’s price can begin a move that takes it back to $66,000. Last on the list of metrics supporting a price increase in the Stock to Flow ratio whichThe Stock to Flow ratio measures an asset’s vulnerability to inflation and its scarcity.