Glassnode data shows Bitcoin’s entity-adjusted SOPR (Spent Output Profit Ratio) 7-day moving average has climbed back above the break-even level of 1. The reading suggests that most coins being sold on-chain are now moving at a profit, while price has not immediately pulled back. That points to buying demand still being strong enough to absorb profit-taking pressure. In the current reading, the metric is being watched as a sign of whether market demand can continue to support higher prices without a quick reversal. Glassnode’s observation also sets a clear line for traders to monitor. If the indicator stays above 1, it would signal that demand remains firm. If it falls back below 1, that would indicate weakening support from buyers and softer absorption of selling pressure in the market.
According to Glassnode, Bitcoin’s entity-adjusted SOPR (Spent Output Profit Ratio) 7-day moving average has moved back above the break-even level of 1.
The metric indicates that most tokens currently being sold on-chain are being sold at a profit, while price has not immediately fallen as a result. That suggests buyers are still able to absorb profit-taking pressure, a pattern typically associated with a bull market.
If the indicator remains above 1, it would reflect steady demand. If it drops back below 1, that would point to weakening buying support.
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