@daphnekent

Splitting SOPR by coin age separates strategic, longer-term realizations from shorter-term trader churn. Elevated SOPR among long-term holders suggests measured distribution from historically patient cohorts—indicative of profit-taking but not panic selling—whereas spikes in short-term SOPR point to active trader liquidation and higher intraday volatility. Interpreting current readings requires trend context: rising SOPR from long holders during prolonged rallies can signal rotation into risk-off, while persistently high short-term SOPR often precedes pullbacks. Combine SOPR stratified by age with exchange inflows, realized supply changes, and funding rates; only in concert do these metrics clarify whether observed profit-taking is healthy rebalancing or a precursor to trend reversal.

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