Bitcoin Price Rebound Shows Short-Term Holders Taking Profit

Bitcoin price has bounced sharply from the September 15 low, but on-chain data suggests long-term holders aren’t driving the profit-taking. BTC climbed from $74,965 to $81,502, marking a 9.15% recovery, while the SOPR data points mainly toward short-term holders realizing gains.

Bitcoin Price Rebound Brings Short-Term Profit-Taking

The SOPR Ratio, which compares LTH-SOPR with STH-SOPR, currently sits at 0.88. That means short-term holders are realizing relatively more profit than long-term holders.

In other words, the traders moving coins are mostly the newer participants. Long-term holders, meanwhile, aren’t showing much activity.

That distinction matters. A rising Bitcoin price alongside limited LTH movement doesn’t suggest widespread profit-taking from the older supply base based on the supplied data.

aSOPR Shows Profits Are Still Being Realized

The SOPR Ratio alone doesn’t tell the whole story. It only compares profit realization between long-term and short-term holders.

That’s where Adjusted SOPR, or aSOPR, comes in. The current reading is 1.02, meaning Bitcoin holders are still realizing profits overall.

Put both metrics together and the picture is fairly straightforward: some profit-taking is happening during the rebound, but the supplied data doesn’t show particularly aggressive selling.