Bitcoin is once again testing investor conviction as it fights to stay above the $110,000 level following last Friday’s sharp correction that triggered a massive leverage wipeout across the market. After one of the most volatile sessions of the quarter, traders are watching closely to see whether BTC can stabilize or if more downside pressure will emerge.

According to on-chain data shared by Darkfost, Long-Term Holders (LTHs) are continuing to exert significant pressure on the market. Their Spent Output Profit Ratio (SOPR) — a key metric tracking realized profits — currently stands at 2.32, showing that this group is selling coins at an average gain of over 130%.

Such elevated profitability levels often coincide with phases where long-term investors take profits after extended rallies,

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