Glassnode: On-Chain BTC Selling Remains Profitable, Buying Pressure Absorbs Sell-Offs

According to Glassnode, the 7-day moving average of Bitcoin's entity-adjusted Spent Output Profit Ratio (SOPR) has risen above the breakeven line of 1. This indicates that most on-chain selling is currently profitable. The fact that prices have not immediately declined suggests that buying pressure is successfully absorbing profit-taking, a characteristic of a bull market. Sustained levels above 1 reflect robust demand, while a drop below 1 would indicate weakening support.