Bitcoin price has bounced sharply from the September 15 low, but on-chain data suggests long-term holders aren’t driving the profit-taking. BTC climbed from $74,965 to $81,502, marking a 9.15% recovery, while the SOPR data points mainly toward short-term holders realizing gains.
Bitcoin Price Rebound Brings Short-Term Profit-Taking
The SOPR Ratio, which compares LTH-SOPR with STH-SOPR, currently sits at 0.88. That means short-term holders are realizing relatively more profit than long-term holders.
In other words, the traders moving coins are mostly the newer participants. Long-term holders, meanwhile, aren’t showing much activity.
That distinction matters. A rising Bitcoin price alongside limited LTH movement doesn’t suggest widespread profit-taking from the older supply base based on the supplied data.
aSOPR Shows Profits Are Still Being Realized
The SOPR Ratio alone doesn’t tell the whole story. It only compares profit realization between long-term and short-term holders.
That’s where Adjusted SOPR, or aSOPR, comes in. The current reading is 1.02, meaning Bitcoin holders are still realizing profits overall.
Put both metrics together and the picture is fairly straightforward: some profit-taking is happening during the rebound, but the supplied data doesn’t show particularly aggressive selling.
For now, short-term holders are taking some gains while long-term holders remain relatively inactive.
BTC Now Faces May High Near $82,322
The chart has another test waiting. Bitcoin price is now approaching the May 2026 high of $82,322 after reaching $81,502.
That level represents the immediate resistance in the supplied technical setup. If BTC flips $82,322, the next potential target is $90,000.
But rejection would change the setup quickly. Bitcoin price could then revisit $76,350 and $73,280 as the highlighted support levels.
So the question isn’t simply who’s taking profit. It’s whether short-term selling can slow Bitcoin price before BTC price clears $82,322.
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