Analysts have recorded significant changes in the structure of the Bitcoin market: the adjusted Spent Output Profit Ratio (aSOPR) has remained above the 1 mark for nine consecutive days. This situation indicates a predominance of Bitcoin sales at a profit, which may signify a new phase for the market.
This is reported by Finway
Sustained Profit Taking and Changes in Market Trends
The SOPR (Spent Output Profit Ratio) metric shows whether coins are being sold at a profit or a loss. When aSOPR exceeds 1, it means that investors are, on average, realizing profits when selling Bitcoin. If the metric falls below 1, it indicates sales at a loss. According to analysts at CryptoQuant, the current streak has been ongoing since May 1, 2026, and its duration suggests deeper structural changes rather than short-term fluctuations.
Analysts remind us that a similar situation was observed in October-November 2025, when the market also demonstrated a series of days with profit realization at the on-chain level. They emphasize that the current streak reduces the likelihood of random market noise and indicates a stable trend.
Market Sentiment and the Role of aSOPR
The market is currently successfully absorbing the supply from sellers who are realizing profits, and so far this has not led to a sharp decline in Bitcoin’s price. Experts stress that this dynamic is not a sign of emotional euphoria among market participants, but rather indicates a transition from a period of predominant loss realization to a phase of systematic profit taking.
“Coins are being realized at a profit, yet the market retains its ability to absorb this supply,” analysts noted.
The key level for maintaining positive dynamics remains the 1 mark. If aSOPR drops below this value, the market may revert to a phase of loss realization, which would weaken the constructive market situation.
Previously, experts identified the $93,000 mark as an important target for Bitcoin due to the so-called CME gap.