The crypto enthusiast reported the unusual development in a recent post on the X platform. In the past, the SOPR indicator, a key on-chain metric used to gauge overall market profitability, has aligned strongly with BTC’s performance.
However, while Bitcoin’s price has risen strongly and is holding beyond the $100,000 mark, this metric has been falling at a rapid pace. “Interestingly, the price of Bitcoin has been rising, but profit-taking is not keeping up,” the crypto enthusiast stated.
Darkfost noted that the trend suggests most BTC holders remain patient on the sidelines, opting to hold instead of taking profits. However, the expert has underscored the importance of caution as a shift in sentiment is probable if BTC loses its uptrend and enters a correction phase.
