As bullish macroeconomic conditions and market sentiment persist, Bitcoin saw a remarkable reaction to these positive developments, leading to a surge to new heights. In the meantime, BTC’s powerful rally to a new all-time high has flipped several key on-chain metrics toward a positive trend.
Long-Term Bitcoin Holders SOPR See Major Uptick
Bitcoin has displayed robust bullish performance this bull market, rallying recently to a new all-time high. As a result, BTC long-term holders are firmly back in profit territory, with the Spent Output Profit Ratio (SOPR) indicator witnessing a sharp increase in the past few weeks.
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After reaching a new all-time high in price, BTC’s SOPR for Long-Term Holders (LTH) has followed suit, surpassing the mid-range and rising to new highs in 2025. This positive advancement was reported by Gaah, a market expert and author, in a recent Quick-take research on the CryptoQuant platform.
According to the expert, the rise in long-term holders SOPR, a metric that measures the realized profit or loss of spent coins, is an indication of growing profit-taking behavior on the part of these key investors. It could also fuel a newfound sense of confidence among long-time investors who have amassed Bitcoin over the course of past market cycles.
Despite the notable increase in the key metric, the expert noted that it is still below the red zone that has historically marked the peaks of BTC’s bull cycle. This suggests the flagship asset could still extend its price rally to another new all-time high before the bear market possibly kicks off.
After examining the metric, it is observed that long-term holders have started to sell for an increasing amount of profit. However, Gaah stated that the selling pressure is not yet at excessive levels, which often occurs in periods of euphoria and mass distribution. In other words, the metric has not yet reached the apex of the bullish cycle, based on this signal, even though BTC’s price has surged recently.
The market Still Heated Despite A Notable Increase
Data shows that the BTC SOPR for long-term holders is slightly above the 2.5 level, and below the key 4.0 level. Historically, there have been indications of a macro top when the SOPR LTH hits the area above 4.0, which is indicated in red on the chart. The SOPR’s current position supports the idea that more appreciation is feasible before the rising cycle may run its course.
Related Reading: Bitcoin SOPR Signals More Gains Ahead Despite New ATH – Analyst
While the market is still far from a final top, Gaah stated that this behavior suggests that it remains heated. In the meantime, the expert has urged investors to keep an eye on the continuation of the trend as an indication that the cycle is maturing, without ignoring the possibility of significant corrections along the way.
Featured image from Pixabay, chart from Tradingview.com
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