Prominent market analyst with the pseudonym RugaResearch has drawn attention to recent developments with Bitcoin long-term holders (LTH) Spent Output Ratio (SOPR), indicating that these key participants are exiting their positions at a significant loss. Related Reading: Bitcoin Stalls At $66,000 As Market Quietly Prepares For A Downside Draw Bitcoin LTH SOPR: Quiet Market Divergence The SOPR compares the price at which coins were last moved (cost basis) to the price at which they are currently being spent. It is used to measure whether coins being spent are in profit or loss. When the SOPR drops below 1, it indicates investors are selling their holdings at a loss and vice versa