Ethereum stole the spotlight yesterday, soaring to a record all-time high. The surge follows Fed Chair Jerome Powell’s hint at a potential rate cut next month, a move that was widely anticipated by markets and investors. Let’s take a closer look at what drove this rally and how the experts reacted. Peter Brandt Reacts To …
The Bitcoin (BTC) market registered an impressive 4% price bounce on Friday, following dovish policy comments by US Federal Reserve Chairman Jerome Powell. The premier cryptocurrency now trades above $116,000, nullifying earlier losses seen in the past week. Interestingly, prominent market analyst Tony “The Bull” Severino has outlined the implications of this price rebound regarding the BTC price trajectory. Related Reading: Bitcoin Slides Below $120K as Buyers Retreat, Is the Rally Already Over? Bitcoin’s Latest Bounce Revives Bullish Momentum – Price Targets To Watch In an X post on August 22, Severino explains that Bitcoin showed resilience in its price recovery on Friday by bouncing off the lower boundary of a long-standing ascending channel, tagged as the “Wall of Worry.” Notably, this lower boundary has acted as a key support zone for the leading cryptocurrency, stretching as far back as November 2023. Following each bounce off this support, Bitcoin has popularly reached the upper boundary, raising many expectations of a price surge at this moment. According to the channel analysis, Severino shows that the immediate technical target lies at the median line around $144,000, representing a roughly 24% advance from current levels. Interestingly, should bullish momentum persist, the next major resistance zone would align near the upper boundary of the channel at $183,000. However, a decisive break below the ascending channel would invalidate the bullish structure, potentially triggering a broader retracement toward the $95,000–$100,000 region. Related Reading: When Will Bitcoin Bottom Out? This Could Be The Signal To Watch Bitcoin Market Outlook At the time of writing, Bitcoin trades at $115,641, reflecting a 3.21% gain in the last 24 hours. This positive performance is accompanied by a 38.78% gain in daily trading volume, currently valued at $80.33 billion. However, losses of 1.76% and 1.94% on the weekly and monthly charts indicate that new market entrants are yet to break even. Meanwhile, crypto analyst Jordan Pivato is predicting the current market cycle to peak on October 21, 2025. This projection is based on historical data showing that Bitcoin cycles tend to extend slightly longer with each iteration. While the previous cycle lasted 548 days, Pivato estimates the ongoing one will span 550 days, placing the top in late October. He further points to Bitcoin’s strong seasonal performance in October as additional support for his call. Historically, October has been Bitcoin’s most bullish month, logging gains in six of the past twelve years and recording just two losing Octobers in that period. On average, Bitcoin has delivered a 46.72% monthly gain in October, with a median increase of 10.82%, making it the most favorable month in the calendar year for BTC performance. Featured image from iStock, chart from Tradingview
Dogecoin, the largest meme coin, posted a strong 9.48% daily gain, climbing to $0.2381 with a market cap of $35.81 billion. The move comes amid a sharp increase in trading volume, which surged over 160% to $5.3 billion. Also, because of a mix of whale accumulation, market rotation into altcoins, and technical strength, despite lingering …
Ethereum (ETH) just delivered one of its strongest moves in years, breaking its all-time high of around $4,860 after a bullish surge on Friday. The cryptocurrency soared by more than 13% in a single day, marking a pivotal moment for the market and confirming the strength of Ethereum’s ongoing rally. Related Reading: TRON Spot Market Signals Relief – Seller Dominance Weakens After Cycle High Momentum is firmly on the side of the bulls, as Ethereum continues to outperform Bitcoin. While BTC consolidates around the same price range it held a month ago, ETH has taken the lead, strengthening the case for an extended altcoin rally. The market is entering a phase where altcoins are beginning to show strength across the board, with Ethereum spearheading this trend. Adding to the optimism, top analyst Ted Pillows shared fresh insights pointing to Ethereum’s continued dominance in decentralized finance (DeFi). He emphasized that Ethereum remains the number 1 chain in DeFi, reinforcing its position as the backbone of the sector. With institutional adoption rising, exchange supply shrinking, and derivatives activity heating up, many see Ethereum as primed for a sustained rally. Ethereum Netflows Surge Amid Fed Speculation Ethereum’s dominance in the crypto market has once again been reinforced by its recent on-chain activity. Over the last seven days, Ethereum recorded a netflow of +$516.4 million, significantly outpacing all other networks. To put this into perspective, the second-largest, Polygon, registered just $102.9 million over the same period. This vast difference highlights Ethereum’s position as the clear leader in attracting and holding liquidity. The timing of this surge is tied closely to macroeconomic developments. Markets began to heat up after Federal Reserve Chairman Jerome Powell’s remarks at Jackson Hole, where he noted that “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” This statement has fueled widespread speculation that the Fed could cut interest rates in September, sparking renewed optimism across both traditional and crypto markets. Ethereum’s strong netflows reflect both institutional and retail conviction. Investors are positioning for further upside in anticipation of improved liquidity conditions. The inflow surge signals not only buying pressure but also a growing shift toward Ethereum as the primary vehicle for DeFi, staking, and treasury strategies. Related Reading: Bitcoin Bull Score Index Signals Fading Momentum: Room For Downside? Weekly Price Analysis: Reaching New ATH Ethereum (ETH) has officially broken into uncharted territory, setting fresh all-time highs on the weekly chart as shown. The breakout above the 2021 peak near $4,860 confirms a major bullish structure after months of consolidation and a sharp rally in recent weeks. ETH closed this candle strongly, near $4,876, representing an almost 9% surge within the week. The structure highlights sustained bullish momentum. With ETH trading well above its 50-week ($2,823), 100-week ($2,794), and 200-week ($2,446) moving averages. This alignment — with shorter-term moving averages trending above the longer-term ones — reinforces the bullish trend. Momentum indicators also suggest that buyers remain in control, supported by institutional flows and derivatives positioning. Related Reading: Whale Loads Up $300M Ethereum Onchain: Did He Just Catch The Bottom? Key resistance now lies only in price discovery, as ETH has no historical levels above its current price. In such phases, rallies often extend rapidly, especially when combined with rising open interest and strong on-chain accumulation trends. On the downside, immediate support rests around the $4,300–$4,200 zone, which coincides with the breakout region. Losing this area could invite deeper corrections, but bulls are currently defending it strongly. Featured image from Dall-E, chart from TradingView
The conversation around cryptocurrency in the United States has taken a remarkable turn. Crypto leaders are calling it a turning point. After years of regulatory crackdowns and enforcement-led actions, the tone in Washington toward digital assets has shifted dramatically, signaling a path toward mainstream acceptance. Ripple CEO Brad Garlinghouse said the difference in how policymakers …
The crypto world has no shortage of memecoins, but PENGU is starting to stand out in ways few imagined possible. What started as a playful memecoin is now positioning itself as a serious contender in the digital asset space.With NFT ETFs in the pipeline, top chart analysts now predict the PENGU token to hit $0.10 …
A popular crypto sentiment tracker surged back into Greed on Saturday after Fed Chair Jerome Powell hinted at a possible rate cut in September.
Memecoin, the native token of the Memeland ecosystem by 9GAG, has taken traders by surprise with a 63.75% surge in the past 24 hours. This has pushed its price to $0.003949 and market cap to $209.52 million. Talking about business, the daily trading volume shot up 236% to $515.18 million. As traders piled into memecoins …
DOGE's price action shows potential for further gains, with support at $0.21 and resistance at $0.24.
High-leverage trader James Wynn is back in the spotlight with a 25x Ether long showing strong gains, while his parallel Dogecoin bet is struggling in the red.
Powell’s dovish tone sent ether to fresh highs, but nearly $400 million in liquidations shows just how stretched traders were heading into the move.
Solana (SOL) has surged back above $200, showing stronger upside than most of the top 10 cryptocurrencies. This rally is supported by increasing network usage, liquidity inflows, and favourable technical patterns that highlight Solana’s resilience compared to peers like Ethereum and Cardano. On the other hand, the Solana TVL has surged since the beginning of …
Crypto prices today reflect a market buzzing with momentum after Federal Reserve Chair Jerome Powell’s dovish remarks at the Jackson Hole Economic Symposium. Ethereum stole the spotlight, smashing through its old record to hit a new all-time high above $4,880 with double-digit gains. Bitcoin followed suit, climbing 4.2% to $117,220, while XRP regained ground at …
After falling below $3, the XRP price looks to be entering into another triangle setup that could ultimately end up in a breakout. This formation on the 4-Hour chart began back in the month of July and could be headed to a natural close in the next few weeks, especially as sellers look to be tiring out at this level. The Support Level To Watch For XRP Pseudonymous crypto analyst TheSignalyst pointed to an interesting formation on the XRP price chart amid the descent into bearish territory. This is the formation of what the analyst has referred to as the “perfect triangle” setup, with the possibility of a breakout at the end of this setup. Related Reading: This 7-Year-Old Bitcoin Whale Just Sold $76M In BTC To Buy This Altcoin First and foremost, TheSignalyst highlighted that the XRP price has since been coiling up inside a textbook symmetrical triangle. This is happening on the 4-Hour chart as both bulls and bears move to defend the next major levels in he end. For the bulls, they continue to struggle to hold the support above $2.78, with the price pushing further downward due to the sell pressure. Meanwhile, the bears are still mounting resistance all inside this triangle, with a possible cross of both trendlines happening soon. So far, the bears seem to have more control since the XRP price continues to bear down, and the altcoin is now already testing the lower bound of the triangle. With the mounting pressure, bulls must maintain this lower bound if there is to be any recovery. If this level holds, then the analyst says a potential bounce back could be expected for XRP, and this would take it toward the upper boundary. Related Reading: Analyst Puts XRP Cycle Top Above $20, But Says Price Must Hold Last Line Of Defense In the case of a bounce back, XRP could see an over 14% increase in price to retest the $3.2 level again. This is where the bears come in once again with resistance, and sellers will need to push back at this level in order to invalidate the uptrend. However, if the lower trendline does not hold above $2.78 and bears are able to break below it, then it could signal a sustained downtrend. A breakdown from this level would invalidate the “perfect triangle” setup and likely push the XRP price back down toward $2.5, where there is major buy support. Featured image from Dall.E, chart from TradingView.com
While whales booking profits created near-term pressure, some analysts argue that structural flows continue to point higher if resistance levels give way.
XRP price continues to surprise traders by staying largely unaffected by major catalysts in the crypto market. Despite Ripple’s courtroom victories in the ongoing Ripple vs. SEC case and Jerome Powell’s recent Jackson Hole speech sparking rallies in Bitcoin and Ethereum, XRP remains range-bound. This unusual detachment has left investors questioning why XRP trades differently …
Solana price has staged an impressive rally, chugging up 12.82% to $206.70. Its valuation now stands at $112.02 billion, while the intraday trading volume has exploded 157.88% to $11.93 billion. With prices ranging between $177.47 and $205.20 in the last day, Solana’s recovery is drawing both retail and institutional interest. With the token trading just …
August 23, 2025 06:13:27 UTC XRP ETF News Update Seven asset managers have filed amended S-1 forms for spot XRP ETFs with the U.S. SEC on August 22, 2025. The list includes Grayscale, Bitwise, WisdomTree, 21Shares, Franklin, CoinShares, and Canary, signaling a united push to bring XRP ETFs to market. The coordinated timing strongly suggests …
The push for a spot XRP ETF has gained momentum as seven major asset managers, including Grayscale, Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree, submitted updated S-1 filings with the U.S. Securities and Exchange Commission (SEC) on Friday. This cluster of filings highlights the growing interest among financial institutions in meeting investor demand for …
Ethereum has just smashed through its old record, setting a new all-time high above $4,878. This breaks the level last seen in November 2021. The timing couldn’t have been better. The surge came right after Federal Reserve Chair Jerome Powell confirmed at Jackson Hole that a rate cut is coming in September. So far in …
The cryptocurrency market is showing signs of life again, with a nearly 4% jump, as its market cap hit almost $4 trillion in the past 24 hours. Meanwhile, with Bitcoin up almost 4% from yesterday, crossing the $116,800 mark, a remarkable 93% increase from one year ago.This rally has surprised the entire crypto market while …
While Powell's stance supports a crypto rally, potential risks include corporate treasury adoption challenges and equity market volatility.
Ethereum (ETH) is leading the end-of-the-week market recovery after finally breaking above the $4,800 resistance. As the cryptocurrency is attempting to reclaim this crucial area, some analysts suggest that a new all-time high (ATH) is imminent. Related Reading: Another Celebrity Scam? Kanye West Memecoin Launch Leaves 60% Of Investors In The Red Ethereum Hits New Multi-Year High On Friday, Ethereum broke above the $4,800 resistance for the first time since 2021, hitting a multi-year high of $4,834. The cryptocurrency has rallied over 14% over the past 24 hours, driven by Federal Reserve Chairman Jerome Powell’s annual address at Jackson Hole. In his speech, Powell signaled the possibility of an interest rate cut, affirming that “with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Following Powell’s remarks, the market soared, with Bitcoin (BTC) jumping from its local range low to the $117,000 area. Meanwhile, Ethereum initially climbed from the $4,200 support to reclaim the crucial $4,700 barrier. In a statement to CNBC, Jordi Alexander, CEO of crypto trading firm Selini Capital, suggested that crypto traders were caught completely offside by Powell’s dovish comments. “The market positioning in recent sessions has seen clear risk-off moves in assets like crypto and tech, and today’s setting up of a September rate cut is causing a panicked repositioning, which could continue through the illiquid weekend as shorts get squeezed,” he affirmed. Meanwhile, Joseph Chalom, Co-CEO of SharpLink Gaming, asserted that “the markets are loving Powell’s dovish speech. September rate cuts seem imminent. We’re at a pivotal moment in the market cycle.” ETH Ready For More? Notably, ETH has been consolidating between $3,762 support and $4,631 resistance since the early August breakout, retesting the $4,000-$4,100 mid-zone of this week’s pullback. On Friday afternoon, Ethereum continued its climb above the $4,800 resistance. This level was unsuccessfully tested last week, when the King of Altcoins hit a local high of $4,788 before being rejected. Analyst Crypto Jelle highlighted a one-week falling wedge pattern on ETH’s chart, which targeted a breakout to the $4,600-$4,800 area. Following today’s price jump, the analyst suggested that Ethereum is ready to target its all-time high of $4,878 after the breakout. Additionally, he noted that ETH already broke out of an 18-month bullish megaphone this month, which targets the $10,000 level. He explained that the cryptocurrency has successfully retested the key resistance level, around $4,000, during this week’s pullback and has “hardly any resistance left.” Related Reading: Chainlink Eyes Crucial Resistance After $25 Reclaim – Breakout Or Breakdown Next? Nonetheless, he warned that a pullback is likely to come following the massive pump but added that “the intent is clear. This market wants higher.” Similarly, Ted Pillows affirmed that volatility was expected after Powell’s speech, noting that it had happened in previous years. However, he suggested that a big ETH rally will follow, “just like the last time.” As of this writing, Ethereum is trading at $4,799, a 32.6% increase in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Trish Turner is resigning as head of the IRS crypto division after just months, following two private-sector executives who served about a year.
Bitcoin is navigating a trend-shift zone as markets digest Jerome Powell’s latest Jackson Hole speech. The Fed Chair flagged rising downside risks to jobs while hinting at a possible September rate cut, even as tariff-driven inflation pressures remain a concern. Historically, Powell’s policy signals have heavily influenced crypto markets—dovish tones in past speeches have boosted …
Ethereum’s price has maintained notable strength in recent weeks, giving many investors reason for cautious optimism. The asset briefly traded near $4,700 last week, close to its all-time high of $4,878 recorded in 2021, before correcting to its current level around $4,633. Despite this pullback, Ethereum is still up nearly 30% over the past month, according to CoinGecko data, putting a majority of holders back into profit. Alongside these price developments, analysts continue to monitor exchange data for signs of broader market sentiment. One such analysis comes from PelinayPA, a contributor on CryptoQuant’s QuickTake platform, who examined Ethereum’s netflow patterns on exchanges. This indicator measures whether more ETH is moving onto exchanges (inflows) or off of them (outflows), providing insight into potential selling pressure or long-term accumulation behavior. Related Reading: Altseason Things: Ethereum Perps Volume Sets New Record Against Bitcoin Exchange Netflow Data Points to Reduced Selling Pressure According to PelinayPA, the current netflow picture suggests that Ethereum investors are largely removing coins from exchanges. Historical data indicate that significant inflows, accompanied by substantial amounts of ETH being transferred to trading platforms, often precede price corrections as investors prepare to sell. Conversely, notable outflows have historically appeared before bull market surges, reflecting confidence in holding or long-term storage. “In past cycles, strong exchange outflows occurred just before major uptrends in 2017, 2021, and again in 2024,” PelinayPA explained, adding: What we’re seeing now is consistent negative netflow, meaning ETH is leaving exchanges. This generally reduces immediate selling pressure and supports the case for ongoing bullish momentum. The analyst noted that while inflows can still trigger short-term pullbacks, the current outflow-dominant environment suggests that Ethereum retains significant upside potential in the medium to long term. The price action aligning with these signals reflects a market where participants are more inclined toward accumulation than distribution. Ethereum Institutional Demand and Technical Outlook Ethereum’s strong performance is also being interpreted through a technical lens. Several traders have pointed out that ETH has broken out against Bitcoin after years of relative underperformance. A crypto analyst known as CryptoBatman on X highlighted the significance of this trend, arguing that Ethereum’s rally could be entering a new phase of market recognition. Related Reading: Whale Loads Up $300M Ethereum Onchain: Did He Just Catch The Bottom? “ETH has finally broken out against BTC,” he wrote, noting that this development shows Ethereum’s potential to gain further traction in the broader crypto market. After years of downtrend, $ETH has finally broken out against $BTC It’s actually crazy to think about the upside potential this market holds, as Ethereum’s recent rally is already insane. But in reality, we’re only just getting started. pic.twitter.com/ZNbkhHudjZ — BATMAN ⚡ (@CryptosBatman) August 22, 2025 In addition, institutional indicators are beginning to align with this narrative. Investment funds and exchange-traded products tied to Ethereum have seen steady growth in holdings, with large investors maintaining exposure even during periods of volatility. Featured iameg created with DALL-E, Chart from TradingView
The cryptocurrency market experienced a significant surge on Friday, with Ethereum (ETH) and Bitcoin (BTC) leading the charge and reviving the upward momentum seen in the previous week that had propelled it to new all-time highs. Among the notable developments, the market’s leading altcoin skyrocketed above the $4,700 mark while recording double-digit gains and edging closer to the $4,878 record highs it reached during the last crypto bull cycle four years ago. After enduring a prolonged phase of consolidation and breakdown, ETH’s recent gains reflect renewed optimism in the market, particularly following comments from Federal Reserve (Fed) Chair Jerome Powell. Ethereum, XRP, And BNB Surge Powell’s remarks during his speech at the Jackson Hole Economic Symposium suggested that rate cuts could be on the horizon, a sentiment that tends to favor assets like Bitcoin and altcoins. Lower interest rates make investments in stocks and digital currencies more attractive compared to traditional interest-yielding options, such as bonds. Additionally, a reduction in rates typically weakens the dollar, further enhancing the appeal of cryptocurrencies. Related Reading: Bearish Forecast: Strategy (MSTR) Stock Slides 19%, Analyst Expects Further Declines The positive market sentiment was not limited to Bitcoin and Ethereum; other altcoins also enjoyed substantial price increases. XRP rose by 5%, Solana (SOL) saw a 4% gain, and Binance Coin (BNB) surged by 8%, reaching a new record price beyond the $882 mark, which now serves as a resistance level for the token. Manuel Villegas, an analyst at Julius Baer, noted in a research report that the correlation between cryptocurrencies and equities is currently strong. He emphasized that the market mood is likely to be highly responsive to comments from the Jackson Hole meeting of monetary authorities and any subsequent reactions from fiscal authorities. ¿A Bullish Q4 Ahead? On social media platform X (formerly Twitter), market experts weighed in on the implications of Powell’s statements highlighting what could come next for the broader cryptocurrency market. Doctor Profit remarked that Powell’s announcement was the most anticipated event for both the stock and crypto markets, suggesting that the market had already priced in the likelihood of upcoming rate cuts. He cautioned that a “sell the news” reaction could soon occur, as traders might capitalize on the gains made in anticipation of these developments. Related Reading: Dogecoin About To Explode? On-Chain Models Hint At A Massive Rally In a social media post, Lark Davis asserted that the Federal Reserve Chair’s comments have effectively opened the door for potential rate cuts as early as September, hinting that the fourth quarter of the year could end up being “extremely bullish.” As of this writing, Ethereum is trading at $4,740. It has the best performance of the day among the top cryptocurrencies, with a significant 13% uptrend witnessed in today’s trading session. Bitcoin, on the other hand, is still far from the record $124,000 level reached last week, despite its 4% surge in the last 24 hours. Trading at $116,000, Bitcoin is still 6% below its all-time high. Featured image from DALL-E, chart from TradingView.com
Bitcoin continues to trade below its recent highs, extending a pullback that began after reaching a record level above $124,000 last week. As of today, the cryptocurrency is priced around $115,347, reflecting a 7.7% drop from its peak and a 3% decline over the past week. The downturn highlights a loss of momentum, with market data suggesting reduced demand from buyers on major exchanges. According to recent analysis shared on CryptoQuant’s QuickTake platform, the decline is closely tied to shifting activity on Binance, the world’s largest crypto exchange by volume. The analyst, known by the pseudonym Arab Chain, explained that Bitcoin’s downward trajectory this month corresponds with fading buying pressure on Binance. The pattern indicates that sellers have been able to exert more control in recent sessions, with spot market data showing a liquidity exit from buyers. Related Reading: This Bitcoin Volume Signal Nailed The Top & Bottom: Analytics Firm Bitcoin Exchange Data Highlights Reduced Demand Arab Chain’s analysis noted that between early August and August 22, Bitcoin slipped from levels above $123,000 to near $113,000. During the first half of the month, strong waves of buyer activity supported upward price moves. However, as the month progressed, indicators such as Binance’s Volume Delta shifted negative, reflecting a reversal in the balance between buyers and sellers. At one point, net outflows from buyers reached levels close to -$600 million, suggesting that sellers were absorbing liquidity without enough counter-pressure. The analyst emphasized that Binance data carries weight given the platform’s depth and liquidity. A decline in buying activity despite stable overall volume points to a cautious stance from large traders and institutions. Some of the selling may be linked to profit-taking at resistance zones near $120,000, while the lack of strong follow-through buying reduced the likelihood of sustaining higher prices. This pattern reflects how spot market demand remains critical for price stability at elevated levels. Miner Behavior Points to Accumulation Shift In addition to exchange data, unusual activity between miners and Binance has drawn attention. Arab Chain also highlighted an increase in transfers from Binance to miner-linked wallets, a reversal of the more common pattern of miners sending Bitcoin to exchanges for sale. Past episodes of such flows, averaging more than 10 BTC per transaction, preceded rebounds in the market earlier this year. This may suggest that miners are holding back supply or preparing reserves in anticipation of future price strength. The implications of these transfers depend on interpretation. If miners are moving Bitcoin to cold storage, it indicates reduced short-term selling pressure and could support the market by lowering available supply. Related Reading: Why August Could Be Remembered As A Major Trap For Bitcoin And Crypto Market On the other hand, if the transfers represent profit redistribution or eventual liquidation through other channels, the effect may be neutral or even negative. Still, the data points to a strategic shift in miner behavior, adding another layer of complexity to the current correction phase. Featured image created with DALL-E, Chart from TradingView
Concerns are rising among Bitcoiners over institutions doing "institutional-like things" with Bitcoin, Preston Pysh said in a recent podcast interview.
On-chain analytics firm Glassnode has revealed how the Bitcoin price often forms local bottoms when this holder group shows capitulation. Bitcoin STHs Are Currently Participating In Mild Loss Realization In a new post on X, Glassnode has talked about how short-term price action is often dictated by the top buyers’ reaction to post-ATH drawdowns. As the price slides down, these holders quickly get into losses and can become prone to making panic moves. Related Reading: Altseason Things: Ethereum Perps Volume Sets New Record Against Bitcoin Bitcoin is currently in such a phase, with a notable amount of supply having a cost basis in the zone between the latest spot price and $120,000, as the below chart shows. The indicator in the graph is the Cost Basis Distribution, which tells us, as its name suggests, how much of the BTC supply last changed hands at the various price levels. From the metric’s data, it’s apparent that investors have slowly been building up a dense supply cluster below $120,000 as the asset has been trading inside the range since early July. The recent Bitcoin price plunge naturally put these investors underwater, so the question is: how have these holders been reacting? An indicator that can help shed light on the matter is the Spent Output Profit Ratio (SOPR). This metric compares the amount of profit and loss that the investors as a whole are realizing on the network. When the value of the SOPR is greater than 1, it means the average holder is selling their coins at a profit. On the other hand, it being below the threshold suggests loss-taking is dominant on the network. In the current discussion, the SOPR of the entire market isn’t of interest, but rather that of a specific part of it: the top buyers. These would be the investors who got into the cryptocurrency over the last three months. Here is the chart shared by Glassnode that shows the trend in the Bitcoin SOPR for the investor cohorts falling in this age range: As is visible in the above graph, the Bitcoin SOPR has dropped for all three of 1 day to 1 week, 1 week to 1 month, and 1 month to 3 months groups following the price decline. The indicator is now floating between 0.96 to 1.01 across these cohorts, indicating these investors have started selling at a mild loss. “If pressure builds, local bottoms often form when this group capitulates, typically when SOPR drops below ~0.9,” notes Glassnode. Related Reading: This Bitcoin Volume Signal Nailed The Top & Bottom: Analytics Firm For now, though, it seems Bitcoin may not have to wait for this capitulation signal, as its price has seen a rebound in the past day. BTC Price At the time of writing, Bitcoin is trading around $116,000, down 2% over the past week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com