Bitcoin at $60K caused sell-offs; do you sell your BTC now?

BTC’s aSOPR measures the profit or loss realized when the coin is spent by its holders. An aSOPR value above 1 signifies that coins are being sold at a profit overall. Conversely, a value below 1 suggests that investors are selling at a loss.BTC’s recent price slip under $61,500 has led to a significant surge in sell-offs amongst its holders.

As of this writing, 2.006 million BTC were held across cryptocurrency exchanges. When an asset’s reserve climbs this way, it suggests a rally in selling pressure.to a three-year low. Additionally, in the coin’s futures market, its open interest witnessed a 14% decline between the 15th and 20th of March, according toWhen an asset’s open interest falls in this manner, it suggests a decrease in the number of outstanding contracts. This is because market participants are exiting their positions without opening new ones.An assessment of BTC’s price movements on a daily chart revealed that bearish sentiment has become significant in the market.

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