"Market Sentiment Turns Bearish... A Good Time to Buy Bitcoin"

Son Min

Summary

As the sentiment in the cryptocurrency market turns bearish, it has been analyzed as a good opportunity to buy Bitcoin.
The current SOPR indicator reveals that short-term investors are selling at a loss.
According to various indicators such as MVRV and NUPL, this cycle is not evaluated to be at its peak.

Recently, the sentiment in the cryptocurrency market has turned bearish, suggesting a good opportunity to buy Bitcoin (BTC).

On the 9th (local time), MAC_D, an analyst at CryptoQuant, stated in a report, "As Bitcoin declines, market sentiment is turning bearish," and "it's a better opportunity to buy Bitcoin." He further analyzed, "The SOPR (Spent Output Profit Ratio), which shows the sentiment of short-term investors (holding for less than 6 months), is currently at 0.987, indicating that short-term investors are selling Bitcoin at a loss."

He evaluated, "When short-term investors experience losses, the market rises," and "considering indicators such as MVRV (Market Value to Realized Value Ratio), NUPL (Net Unrealized Profit/Loss), Puell Multiple, and the ratio of short-term investors, this cycle is not yet at its peak."

BTC