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On-chain analyst Darkfost said Bitcoin long-term holder profitability is recovering, a pattern that has appeared near the end of past bear market cycles.
Darkfost said Bitcoin’s LTH SOPR, or the spent output profit ratio for long-term holders, has moved back above its annual average of 1.10 and is holding that level. That suggests long-term holders realized an average profit of about 10% over the past year. As of today, the weekly average stood at 1.25 and the monthly average at 1.16, with both above the annual average. Darkfost said this signals market conditions have improved enough to put long-term holders back in profit, and described the recovery in long-term holder profitability as an interesting signal when compared with patterns that marked the end of previous bear markets.