Bitcoin [BTC]: The two metrics that are crucial to your holdings this week

As per an analyst, BTC’s LTH SOPR had been trending below one since late May 2022. Mining activity on the BTC network was significantly impacted by the king coin’s price. On-chain assessment of the leading coin’s performance revealed that the year-to-date (YTD) rally in Bitcoin’s [BTC] price has caused its long-term spent Output Profit Ratio […]

Mining activity on the BTC network was significantly impacted by the king coin’s price.

According to Greatest Trader, the LTH SOPR had been trending below one since late May 2022, indicating that long-term holders constantly lost money. “Yet, it is still too early to name the $15.5K level the bear market’s bottom, as the recent impulsive rally could just be a bull trap.”

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