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cryptonews
2023-03-07 22:52:00

Key Indicator of Bitcoin Market Profitability Turns Bearish – Here’s What That Means for the BTC Price

Key Indicator of Bitcoin Market Profitability Turns Bearish – Here’s What That Means for the BTC Price

A key indicator of profitability in the Bitcoin market just turned negative, a bearish sign according to some analysts. In wake of Bitcoin’s latest price dip back to the $22,000 area, the 30-day Simple Moving Average of the average Spent Output Profit Ratio (aSOPR) recently fell back below 1, as seen in the below chart presented by crypto data analytics firm Glassnode.... Read More: Key Indicator of Bitcoin Market Profitability Turns Bearish – Here’s What That Means for the BTC Price

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