Data Shows Bitcoin Short-Term Holders Have Started To Sell At A Loss

News BTC

On-chain data shows Bitcoin short-term holders are increasingly selling at a loss following the latest crash in the crypto’s price.

Bitcoin Short-Term Holder SOPR Dips Further Below One

As pointed out by an analyst in a CryptoQuant post, on-chain data shows that the STH SOPR has decreased to July levels, suggesting that short-term holders are increasingly realizing their losses.

How To Get Free Crypto  

The Spent Output Profit Ratio, or “SOPR” in short, is a Bitcoin indicator that tells us whether investors are selling at a loss or a profit during a given period.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The metric’s value is calculated by taking the ratio between the value of coins at spent time, and that at the time of creation.

If the SOPR drops below one, then it means investors are, on an average, selling at a loss. While if it floats above the threshold, then the overall market is making a profit. It being exactly equal to one implies holders are breaking even.

A slight modification of this indicator is the STH SOPR, which measures the profit ratio of only those coins that were held for less than 155 days before being sold.

Coinbase Banner  
Get 110 USDT Futures Bonus for FREE!

These coins are usually assumed to be the short-term holder (STH) supply. So, the STH SOPR highlights whether these holders were selling in profit or not at a specific time.

Related Reading | Understanding Bitcoin UTXO: Mid-To-Long Term Holders Responsible For November Correction

Now, here is a chart that shows the trend in this Bitcoin indicator over the past year:

Looks like the the value of the indicator has sharply dropped recently | Source: CryptoQuant

As you can see in the above graph, the Bitcoin STH SOPR declined to 0.95 yesterday. The last time similarly low values were observed was back in July.

These current low values suggest that short-term holders are increasingly dumping their coins at a loss right now. A similar trend was seen following the May BTC crash.

Related Reading | SEC Boss Acknowledges That Bitcoin Is A Competitor For U.S. Banking System

The analyst in the post thinks that either the coin may now follow a similar sideways movement as to the one seen then, or it may set up a final leg up for Bitcoin as was the case in July.

FreeBitcoin Banner  

BTC Price

At the time of writing, Bitcoin’s price floats around $48.4k, down 15% in the last seven days. Over the past month, the crypto has lost 20% in value.

The below chart shows the trend in the price of BTC over the last five days.

BTC's price has mostly moved sideways since the crash | Source: BTCUSD on TradingView

A few days back, Bitcoin’s price crashed down to as low as $42k before jumping back up to current levels. Since then, the crypto has mostly consolidated sideways.

Featured image from, charts from,

Go to Source
Author: Hououin Kyouma

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.