On-chain BTC sales are mostly profitable, Glassnode says buying pressure can absorb profit-taking

Odaily News — According to Glassnode monitoring, Bitcoin's entity-adjusted SOPR (Spent Output Profit Ratio) 7-day moving average has risen back above the 1.00 break-even line. This indicator shows that most coins sold on-chain are currently in profit, and the price has not immediately pulled back as a result, with buying pressure able to absorb profit-taking, which is a typical characteristic of a bull market. If this indicator remains above 1, it reflects steady demand; if it falls back below 1, it indicates that absorbing strength is weakening.