Analysis: Bitcoin Indicators Show Profit-Taking Phase Fading, Seller Pressure Nearing Exhaustion

On December 6, CryptoOnchain tweeted that Bitcoin’s SOPR Ratio has fallen to 1.35—its lowest level since early 2024. As Bitcoin pulls back to $89,700, this indicator signals the market’s profit-taking dynamic has fully “reset.” The phase where long-term holders lock in large profits is waning, suggesting selling pressure is nearing exhaustion. Historical data shows that during market cooling phases, an SOPR Ratio drop to this low level often signals a local bottom is forming. A trend reversal at this point could lay the groundwork for the next phase of a healthy uptrend. BlockBeats Note: The Bitcoin SOPR Ratio is a relatively advanced on-chain analysis indicator. Derived from the Spent Output Profit Ratio (SOPR), it primarily gauges whether the market is overall in a profit or loss-dominated state, helping assess where the market stands in the bull-bear cycle.