Analyst: Bitcoin's SOPR has remained above 1 for 9 consecutive days, indicating continued profit-taking in the market

BlockBeats reported on May 11 that CryptoQuant analyst Oro Crypto (@oro_crypto) noted Bitcoin’s Adjusted SOPR (aSOPR) has reentered a critical structural zone. Since May 1, the metric has stayed above 1 for 9 straight trading days, signaling the market is continuing to see profit-taking sell-offs. The aSOPR measures whether Bitcoin spent on-chain is sold at a profit or loss: a reading above 1 means spent BTC is, on average, sold for a profit; below 1 means sold at a loss. What makes this signal notable is its persistence. The 9-day streak cuts through noise, showing a meaningful shift in market structure. The last comparable streak of consecutive profit-taking was Oct 19–Nov 4, 2025, when BTC also saw back-to-back on-chain profit sales. From a market structure standpoint, this suggests Bitcoin is absorbing profit-taking selling pressure, and the price structure hasn’t immediately deteriorated—reflecting solid market resilience. This reading doesn’t necessarily signal a euphoric phase, but rather that the market has shifted from a loss environment to one where participants consistently take profits. As long as aSOPR stays above 1, the structure remains constructive: participants lock in gains while the market retains absorption capacity. The key failure level is clear: a sustained drop below 1 would mean the market is reverting to selling at a loss, weakening the current constructive signal. Bitcoin isn’t just being sold for profit again—this process is ongoing. This continuity turns aSOPR into a constructive signal of internal market improvement, marking the strongest positive streak since Oct–Nov 2025.