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The SOPR index serves as a benchmark for many traders who analyze the situation on the crypto market. When this indicator exceeds one, it means that most investors are selling bitcoins for a profit.
If SOPR falls below one, then this means that the implementation of the cryptocurrency occurs mainly at a loss for traders. The fall of the index usually signals the achievement of a local day.
The CryptoQuant team recorded an increase in SOPR in early April. The last time this indicator was above one was in December last year.
Analysts do not exclude that we are on the verge of a new bitcoin run, as investors again began to sell coins at a profit. This suggests that a panic reset of the cryptocurrency in the short term should not be expected.
Most likely, buyers began to gradually return to the market. The first positive signal for bitcoin was holding positions above $45,000.
Some traders do not exclude that by mid-April, BTC will be able to jump to $50,000 or even exceed this psychological mark.
On the night of Wednesday, April 6, the largest digital currency is trading at $46,000. The coin does not yet have enough support for a quick rebound.
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