Long-Term Bitcoin Holders Are Profitable for First Time in 11 Months, Blockchain Data Shows
Bitcoin's long-term holder spent output profitability ratio (LTH-SOPR) shows coins moved onchain that have a lifespan of at least 155 days or higher are being sold at profit. That suggests the bitcoin bear may be behind us.
huh? 155 days = long-term?
I know things move quickly, but 5 months doesn't strike me as "long-term"; more like medium-term.
Apart from the quibble over definitions, the chart itself is interesting.
However,
"From an on-chain data perspective, bitcoin's price could be pressured to the downside by higher spending from whales [large investors] and long-term holders taking profits at the highest margin in almost a year," CryptoQuant said in a report shared with CoinDesk.
Bitcoin have more lives than a cat, I suppose
A bit like Aramco has about 80% dominance of Saudi stock market - even if not the most profitable all the time, is just too big to ignore.
Also, finance news thrives on any tiny analysis and contrived cause-n-effects.
And crypto is able to do forensic analysis from a wealth of data, in contrast to waiting for quarterly corp reports. lol