BlockBeats News, December 6, CryptoOnchain posted on social media that the Bitcoin SOPR ratio has dropped to 1.35, hitting the lowest level since early 2024. With Bitcoin pulling back to $89,700, this indicator shows that the market's profit-taking condition has undergone a full "reset." The phase where long-term holders take significant profits is fading, indicating that selling pressure is nearing exhaustion.Historical data shows that during market cooling-off periods, a drop in the SOPR ratio to this low level often signals the formation of a local bottom. If a trend reversal occurs at this point, it may set the foundation for the next round of a healthy uptrend.BlockBeats Note: The Bitcoin SOPR Ratio (SOPR Ratio) is a relatively advanced indicator in cryptocurrency on-chain analysis. It is a "ratio" version derived from the Spent Output Profit Ratio (SOPR) and is mainly used to determine whether the market is dominated by profits or losses overall. It is used to help assess the phase of the bull-bear cycle.

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