Following renewed bearish pressure on Friday, Dec. 5, Bitcoin has traded under the psychological $90,000 level through the weekend. On-chain data, however, indicates the cryptocurrency may be preparing for a healthy recovery.
BTC SOPR Drops To Lowest Level Since Early 2024
CryptoOnchain posted on X that a local bottom may be forming, pointing to faded selling pressure—particularly among long-term holders. The observation focuses on the Spent Output Profit Ratio (SOPR), which measures whether spent outputs are being sold at a profit (SOPR > 1) or at a loss (SOPR < 1).
CryptoOnchain reports the Bitcoin SOPR has fallen to 1.35, its lowest reading since early 2024. That decline signals a “complete reset” in market profitability as BTC slipped below $90,000. The analyst notes that long-term holder profit-taking appears to be winding down, with bear exhaustion rising. Historically, a SOPR this low has coincided with local bottoms, suggesting the market is cooling and may be setting up a rebound.
A bounce from here could lay the groundwork for Bitcoin’s next sustainable upward move.
Bitcoin Price At A Glance
At the time of writing, BTC is trading near $89,500, with little change over the past 24 hours and roughly a 2% decline over seven days. Year-to-date, Bitcoin is down about 5%, and it remains roughly 30% below its all-time high of $126,080. Unless market momentum shifts, BTC looks set to finish 2025 in negative territory.
Featured image from iStock, chart from TradingView
