Odaily Planet Daily report: Cryptocurrency analyst Darkfost posted on X that long-term holders (LTHs) are showing early signs of stress. As the market correction continues, the SOPR metric (Spent Output Profit Ratio) indicates that long-term holders are beginning to feel pressure. Although the annual average SOPR for long-term holders is 1.87, the metric has now fallen below the 1 threshold to 0.88—the first time since the end of the 2023 bear market. This suggests that long-term holders are gradually beginning to sell at a loss, reflecting rising market pressure.
However, this trend has not yet been fully established. Looking at monthly averages, SOPR remains at 1.09, indicating that, over a broader time frame, most sales are still profitable. Therefore, the market has not yet entered a true capitulation phase for long-term holders. These are merely early signs of weakening sentiment—they may fade if the market stabilizes, or intensify if selling pressure persists.