It’s been a wild week for Bitcoin, with prices skyrocketing to a new all-time high of $118,856 – because who needs a social life when you can have a cryptocurrency, right? ðĪŠ The premier cryptocurrency (because, of course, there’s a hierarchy) added a cool $10,000 to its market value, bringing its market cap to a whopping $2.34 trillion. But don’t worry, it’s not like the world’s going crazy or anything… yet. ð
Some Very Important Numbers ð
A clever analyst with the username CryptoMe (because, of course, they’re a mysterious genius) has been digging into the data and found some interesting tidbits. It turns out that the short-term holders’ spent output profit ratio (STH SOPR) is currently sitting at 1.02, which is apparently a good thing. ðĪ
For those who don’t speak fluent Crypto, the STH-SOPR measures the ratio of realized profits or losses by investors who’ve held BTC for less than 155 days. A reading above 1.0 means people are selling at a profit, while values below 1.0 mean they’re selling at a loss. And if it gets too high (like, above 1.05-1.20+), it’s like a big neon sign saying “PROFIT-TAKING TIME, FOLKS!” ðĻ
But, as CryptoMe points out, the STH-SOPR is currently chillin’ at 1.02, which means people are making a profit but not getting too carried away. And with the STH realized price sitting at $100,000, that means investors are 17%-18% in profit and are just… waiting for more. ðĪ
Meanwhile, in the derivatives market, Open Interest is climbing, and funding rates are neutral to slightly positive. It’s like the market is saying, “Hey, we’re interested, but we’re not going to go crazy just yet.” ð
CryptoMe’s conclusion? The Bitcoin market is far from overheating, and there’s still room for growth. Because, you know, $118,856 just isn’t enough. ð
The Current State of Affairs ð
At the time of writing, Bitcoin is trading at $117,840, which is a 3.40% increase in the past day but a slight 0.82% decline from the all-time high. And with a daily trading volume up by 96.53%, it’s clear that the market is still going strong. ðŠ
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2025-07-12 18:10