CryptoQuant analyst: Bitcoin long-term holder SOPR rises above 1, upward trend begins
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CryptoQuant analyst CW8900 pointed out that the SOPR of long-term Bitcoin holders has risen above 1, indicating that the market has shifted from a bearish phase to a neutral one and an upward trend has begun. The SOPR for this cycle has not exceeded 6, long-term holders have not yet taken profits, and the top of the cycle has not yet formed. Long term holders' holdings are at their highest historical level, and the real upward trend begins. The top of the cycle will appear in the range where SOPR exceeds 6.