aSOPR and Binary CDD Signal Possible Market Bottom for Bitcoin!
Recent on-chain data points to a potential market bottom for Bitcoin. The Adjusted Spent Output Profit Ratio (aSOPR) stands at 0.99831902, having decreased by 0.96% in the past 24 hours, suggesting that more investors are incurring losses upon selling. Such patterns are typically seen during bear market troughs.
On the other hand, the Binary Coin Days Destroyed (CDD) is at 0.14285714, indicating little activity from long-term holders in the last week. This suggests that long-term investors are largely holding onto their coins, reflecting a strong belief in a forthcoming market rebound.
