SOPR 30dma just flipped \ stacker news ~bitcoin

3 sats \ 4 comments \ @satcat 10 Dec 2022 bitcoin

SOPR's 30d SMA (Spent Output Profit Ratio, 30 Day Simple Moving Average) just flipped positive after largest drawdown since Jan 2019 generational bottom and covid flash crash. SOPR is the ratio of the market valuation of UTXOs when they moved into an address vs. their valuation when they are spent. This can essentially be interpreted as a user's profit/loss when spending their coins. Hence the below chart provides on-chain evidence that max pain of this bear market sell off is likely already behind us!

ELI5: Saddle yo hosses!

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4 sats \ 1 reply \ @satcat OP 10 Dec 2022

LOL, SOPR is not a shitcoin it's an on-chain Bitcoin indicator metric. Did you even read the post @DarthCoin, @StackStacker?...posers

3 sats \ 0 replies \ @DarthCoin 10 Dec 2022

I know is not a shitcoin, I can read, damn it. I was referring that is total garbage because is not presenting the reality. Showing graphs for onchain UTXOs without mentioning anything about LN traffic, is total useless.

Also this chart is only speculation. Again useless. Price really doesn't matter. Damn it, I have a lot of BTC not moved from 2014 and 2017! But I move a lot on LN. Nobody is talking about LN.