CryptoQuant: Ключевой индикатор рынка биткоина опустился ниже уровня безубыточности

cryptonews.ruPublished on 2025-01-14Last updated on 2025-09-15

Индикатор Spent Output Profit Ratio (SOPR) для краткосрочных владельцев биткоина снова опустился ниже отметки «1», несмотря на восстановление курса первой криптовалюты, сообщили аналитики платформы CryptoQuant.

По данным экспертов, это означает, что краткосрочные держатели биткоина вновь начали продавать активы с убытками. До начала сентября значение SOPR более четырех месяцев удерживалось выше отметки «1», то есть, уровня безубыточности, что говорило об уверенности розничных спекулянтов в положительной динамике криптовалюты.

«Падение индикатора, используемого для анализа состояния прибыли и убытков инвесторов в биткоин, сигнализирует о потере уверенности среди инвесторов. Несмотря на рост биткоина с $60 000 до $125 000, за последний год не было характерных всплесков, которые обычно сопровождают фазы эйфории», — отметили эксперты.

В прошлых циклах значительный рост SOPR совпадал с зонами «экстремальной жадности» и массовым привлечением розничных инвесторов. На этот раз розница не демонстрирует активности, и рынок держится исключительно благодаря институциональным игрокам.

Это отсутствие сигнала намекает, что долгосрочный тренд остается неизменным, а текущая фиксация убытков может означать лишь паузу внутри более масштабного бычьего цикла. Если индикатор SOPR поднимется выше «1», вероятность продолжения восходящего тренда увеличится и рынок биткоина может продемонстрировать новые максимумы, резюмировали специалисты CryptoQant.

Ранее сооснователь и бывший гендиректор криптобиржи BitMEX Артур Хейс (Arthur Hayes) сообщил, что биткоин-инвесторы должны оставить надежду о получении быстрой прибыли от своих вложений в первую криптовалюту.

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