Oct 25, 2024

Bitcoin 150-Day MA aSOPR Currently Has A Value Of 1.01 As pointed out by an analyst in a CryptoQuant Quicktake post , the 150-day moving average (MA) of the Bitcoin aSOPR has a value of just 1.01 right now. The “ Adjusted Spent Output Profit Ratio ” (aSOPR) here refers to an indicator that basically tells us about whether the BTC investors are selling their coins at a profit or loss. This metric works by going through the on-chain history of all tokens being sold/transferred to see what price they were transacted at prior to this. When this price for any coin is less than the current price at which they are now being sold, then that particular token’s sale could be assumed to be leading to profit realization. Related Reading 19 hours ago Similarly, coins of the opposite type could be considered to be adding to the loss realization. The aSOPR combines such profits and losses being realized across the network, and calculates their ratio. The “adjusted” in this metric’s name comes from the fact that it filters out transactions of coins that were moved inside an hour of their last transaction. Transfers like these are generally of no consequence to the wider market, so it makes sense to take them out of the data. Now, here is a chart that shows the trend in the 150-day MA of the Bitcoin aSOPR over the last few years: The 150-day MA value of the metric appears to have gone down in recent months | Source: CryptoQuant As displayed in the above graph, the 150-day MA Bitcoin aSOPR has consistently remained above the 1 mark this year, which implies the investors as a whole have been realizing more profits than losses. Earlier in the year, the indicator had grown to a high of 1.04 as the investors had taken the profits of the rally . As the consolidation of the cryptocurrency has dragged on, though, the metric has declined, with its value now sitting at 1.01. In the chart, the quant has highlighted two zones that have historically been significant for the aSOPR. The first is the region under 0.98, where bottoms have historically occurred. At levels this low, the investors are participating in notable loss realization. Resolute hands pick up the coins from these capitulators, thus helping the price reach a point of turnaround. Related Reading 1 day ago The other zone is the one above 1.08, where tops have formed in the past as a result of the aggressive profit-taking from the whales . So far, the current cycle hasn’t seen the Bitcoin aSOPR visit this territory. “Based on previous trends, accumulating Bitcoin until aSOPR reaches 1.04 could be a solid strategy for long-term gains,” says the analyst. “Timing the market by observing whale behavior may prove fruitful.” BTC Price Bitcoin had plunged to the $65,000 level yesterday, but the coin has already made recovery as its price is now floating around $67,100. The price of the coin seems to have been moving sideways recently | Source: BTCUSDT on TradingView Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com Read more Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body. Close Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk. Related News