Crypto analyst with the username PelinayPA has noted a recent shift in Bitcoin traders’ profitability with potentially strong bullish implications. Notably, the premier cryptocurrency continues to trade within the $115,000 price region after earlier price gains on Thursday were followed by a correction of equal measure.

SOPR Ratio Trends Up: Market Signals Point To New Bitcoin Rally

In a QuickTake post on September 19, PelinayPA shares some potential insights into Bitcoin’s future trajectory based on the latest Spent Output Profit Ratio (SOPR) developments. For context, the SOPR is an on-chain metric that reflects whether Bitcoin investors are selling their coins at a profit or a loss.

However, this metric can also be used to gauge the balance of profitability between long-term holde

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