BTC Long-Term Holder Profitability Indicator Falls Below 1, Signaling Potential Market Surrender

ChainCatcher report: According to on-chain data analysis by CryptoQuant analyst nino, the Long-Term Holder SOPR (LTH-SOPR) indicator has recently fallen below the critical threshold of 1. LTH-SOPR specifically tracks the realized profit and loss of long-term investors who have held their Bitcoin for more than 155 days; a value above 1 indicates that holders are generally selling at a profit, while a value below 1 suggests that long-term holders are selling at a loss. The current drop below 1 indicates that an increasing number of seasoned holders are under pressure and selling at a loss, signaling that the market may be approaching a “capitulation” phase—where even the most patient long-term holders begin to respond to price pressure, often regarded as a key signal in the search for a market bottom.