Bitcoin STH-SOPR drops to 0.98, short-term holders collectively sell at a loss

2025-12-18 07:48:13

Abstract generation in progress

【Blockchain Rhythms】The latest on-chain data reveals a rather concerning phenomenon: the Bitcoin price has fallen below the average cost basis of short-term holders (STH). Specifically, the STH-SOPR (30-day) indicator has dropped to 0.98, which is not a small signal.

How should we interpret the SOPR 30D indicator? Simply put—above 1 indicates profitable selling, below 1 means selling at a loss. When it drops to 0.98, it means that recent retail and small investors who bought in are, on average, taking losses now. Selling pressure is gradually accumulating, and if this situation continues to worsen, it will inevitably form a new local bottom.

On-chain data reflects a clear risk-averse sentiment spreading in the market. New market participants are facing significant losses, and the desire to sell is increasing. What are the key signals to watch for a reversal? First, the price needs to rise back above the actual cost basis of STH, and second, the SOPR must return above 1. Only when these two conditions are met simultaneously can we say that the selling pressure has truly eased. Currently, the market’s risk appetite is indeed quite low in the short term.

BTC0.85%

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MindsetExpander

· 10h ago

Selling at a loss again, this time it's the new leeks haha Collective losses of retail investors are the real bottom signal, keep holding on 0.98 still needs to drop, the bottom hasn't been reached yet Where's the promised reversal? Turns out it's another round of harvesting STH are all crying, indicating that institutions are eating up the chips

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PessimisticLayer

· 12-18 08:18

Retail investors are selling again, this is the daily routine in the crypto world. 0.98 is probably a crazy hint that the bottom is here, I'm scared. Short-term holders are all in loss. I'm wondering if this rebound can save them this time. It's another accumulation of selling pressure, the cycle is really repeating. When this data comes out, my mentality just collapses. When will the bottom come?

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MeltdownSurvivalist

· 12-18 08:17

It's that time again to cut the leeks Retail investors are crying, while institutions are still laughing 0.98 this data really hurts, my wallet is also bleeding Every time this happens, it's the big players accumulating, and we small fry are still losing money and trapped I've seen too many of these signals, and in the end, it still depends on who can hold until the reversal moment

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LuckyBlindCat

· 12-18 08:15

Starting to cut losses again, I have to hold this wave Retail investors are all losing money, is it time to bottom fish now? 0.98 is really ruthless, small retail investors must be suffering a lot It's always like this, the bottom is always at the next bottom Let's wait and see if institutions step in to buy, otherwise it will still fall Keep accumulating if you're optimistic, anyway long-term it won't lose That's why I don't touch short-term trades, it's too disgusting Broke the support level, normal operation, why panic? New entrants to the market should wake up, remember the lesson next time STH collapse is when we should be bottom fishing, brother

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GraphGuru

· 12-18 08:12

Here comes another round of cutting leeks. Newcomers will definitely be trapped this time. 0.98 is like this, retail investors' mentality has collapsed. The price needs to break back above the cost price to have a chance. It's still too early to say a reversal. After this wave, it will be quiet for a while again. Really, it's always the same rhythm. As soon as selling pressure mounts, it's over.

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LiquidityNinja

· 12-18 08:11

Here comes the retail investors again, the 0.98 figure is quite hard to watch. The selling wave has arrived, new retail investors are going to suffer. Let's wait and see the bottom confirmation, it's too early to say a reversal now. Brothers of STH, this time we are really collectively heartbroken. This wave is indeed not very good, with such strong selling pressure, can it still rebound? It's this disgusting downward rhythm again, someone will be washed out. Where is the bottom? It still feels like it hasn't been completely smashed through. So many people are trapped in the short term, how heavy must the selling pressure be? Suspecting it will continue to probe lower, those who buy in now are all cannon fodder. The average cost line for retail investors is essentially meaningless, it has still been broken.

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