Bitcoin Long-Term Holders Dump As BTC Plunges Under $17K

On-chain data shows Bitcoin long-term holders are dumping their coins as BTC plummets below the $17,000 level.
Bitcoin Long-Term Holder SOPR Spikes Today
As pointed out by an analyst in a CryptoQuant post, some BTC long-term holders seem to have taken profits in the past day. The relevant indicator here is the “Spent Output Profit Ratio,” which tells us whether Bitcoin investors as a whole are selling their coins at a profit or at a loss right now.
When this metric has a value greate