Bitcoin (BTC) Price Today: SOPR Turns Bullish as BTC Holds $81K, Eyes $83K-$86K Short Squeeze

Bitcoin price and market data show BTC trading around $81,300 at the latest update, with a 24-hour range between $77,968 and $81,675. The recovery has brought Bitcoin back toward the area where derivative positioning and historical supply could become important for the next move.

The latest Bitcoin price action is also being supported by a recovery in the entity-adjusted Spent Output Profit Ratio (SOPR). Glassnode’s metric has moved above the 1.0 break-even level, suggesting that coins being spent are, on average, realizing profits rather than losses.

Bitcoin Price Holds $81K as SOPR Recovers

SOPR measures the profit or loss realized when Bitcoin moves on-chain. An entity-adjusted version removes transfers between addresses controlled by the same entity, making the metric more focused on economically meaningful transactions. A reading above 1 indicates that spent coins are being moved at a profit on average.

Current demand remains strong, allowing Bitcoin to realize profits without immediate selling pressure, while a sustained SOPR above 1 supports a bullish market structure. Source: Glassnode via X

Glassnode’s latest data shows the metric above 1, reinforcing the view that profit-taking has not yet translated into an immediate breakdown in the BTC price. The firm’s analysis said sustained entity-adjusted SOPR above 1 is a characteristic associated with bull-market conditions, while a move back below 1 would indicate weakening demand.