Cryptocurrency analyst CW8900 analyzed that Bitcoin is moving out of its bottom range and starting a full-fledged upward rally. He explained, "Currently, the on-chain Spent Output Profit Ratio (SOPR) of Bitcoin (BTC) Long-Term Holders (LTH) is rising above 1, indicating that the market is shifting from a bearish phase to a neutral phase. In past cycles, the cycle peak tended to appear when the LTH SOPR exceeded 6. The peak of this cycle will be formed when the LTH SOPR indicator breaks 6 and full-scale profit-taking begins."
