Bitcoin SOPR metric sees longest profit run of 2026 as new analysis challenges bear market
Bitcoin aggregate onchain profit entered its fourth week, but a popular analyst warned that BTC price “downside risk” remained in place.
Bitcoin aggregate onchain profit entered its fourth week, but a popular analyst warned that BTC price “downside risk” remained in place.
Bitcoin (BTC) is breaking with typical bear-market behavior as a classic onchain metric puts in its longest bullish streak of 2026.
Data from crypto analytics platform CryptoQuant shows that the spent output profit ratio (SOPR) has now been above its breakeven level of 1 since Aug. 19. SOPR measures the extent to which coins moving onchain do so at a higher or lower price compared to the previous transaction.
Despite BTC/USD holding a local range around $80,000 while the SOPR profitability streak continues, the pair could still hit new macro lows this cycle, one of the industry’s best-known analysts warns.