CryptoQuant Analyst: Bitcoin long-term holders' SOPR indicator drops below 1, diamond hands are capitulating at a loss

Blockchain data platform CryptoQuant analyst nino recently released an on-chain data report indicating that the Bitcoin long-term holder SOPR (LTH-SOPR) indicator has recently fallen below the critical threshold of 1.0. This suggests that many long-term investors holding over 155 days are currently selling at a loss, and the market may be experiencing a potential “capitulation” phase.
(Background: CoinShares mining report: Bitcoin production cost approaching $80,000! Miners face a wave of capitulation, dumping $70 billion to transition into AI)
(Additional context: MARA Holdings liquidates 15,000 BTC! Cashes out $1.1 billion to buy back $1 billion in convertible bonds, signaling entry into AI computing power)

Recent price pressures on Bitcoin (BTC) seem to be testing even the most steadfast “diamond hands.” According to the latest on-chain data report from CryptoQuant analyst nino, the Bitcoin long-term holder SOPR (LTH-SOPR) indicator has recently started to trend below the 1.0 threshold. This key data shift may indicate a major change in the current market environment.

Long-term holders realize losses, signaling potential market capitulation

nino explains that the LTH-SOPR indicator specifically excludes coins held for less than 155 days, focusing on the profit/loss status of experienced long-term investors.

Typically, a value above 1.0 indicates investors are taking profits; however, the current dip below 1.0 suggests that an increasing number of long-term participants are realizing losses by selling at prices below their purchase cost. Analysts warn that even the most patient investors are reacting to current price pressures, and this trend is often interpreted as a potential “capitulation” signal in the market.