Bitcoin's Short Term Holder - Spent Output Profit Ratio (STH-SOPR) indicator shows that coins moved on-chain are, on average, selling at a profit. Chart of the Day explains the data, presented by cryptocom:
Data from Glassnode and Decentral Park Capital shows bitcoin's STH-SOPR indicator, which shows the degree of realized profit and loss for all coins moved on-chain that have a lifespan of less than 155 days.
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