The SOPR for short-term bitcoin holders reached 0.97 on July 7. They stopped selling at a loss, a Bitfinex study suggests.
Bitfinex experts believe that the recovery in the value of BTC will be slow, and it is premature to expect a significant rally in the market:
"Historically, periods of negative financing rates combined with low short-term SOPR values indicate that bitcoin has reached a local bottom."
According to analysts, the fall in the exchange rate of the first cryptocurrency is now fueled primarily by the fact that the German government continues to transfer confiscated bitcoins to the addresses of exchanges and market makers.
Previously, analyst Kevin Svenson He shared a forecast about the achievement of a new historical record by the first cryptocurrency and pointed out the factors that can spur the growth of asset quotes.