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

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