Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

On-chain data shows the Bitcoin long-term holder SOPR has recently observed spikes, suggesting that this cohort is still continuing to sell.
Bitcoin Long-Term Holder SOPR Spiked Up When Price Crossed $30k
As pointed out by a CryptoQuant post, selling pressure in the market still looks to be high as long-term holders are also looking to sell.
The “spent output profit ratio” is an indicator that tells us whether the overall market is selling Bitcoin at a profit or loss right now.
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