Bitcoin (BTC) speculators have been selling at a loss, and this week presents a golden buying opportunity, analysts say.
Data shows Bitcoin’s spent output profit ratio (SOPR) flipped negative for the first time in six weeks on Wednesday.
SOPR says “buy the dip”
A classic buy signal, negative SOPR implies that sellers have been dumping BTC at a loss, and the oversold market, therefore, is ripe for longer-term hodlers to profit from cheap coins.
The last time SOPR went negative was July 20,…
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