Bitcoin is hovering around $67,500 after a sharp drop from its recent high of $69,000. Meanwhile, traders are now closely watching the market, trying to predict its next move. However, CryptoQuant’s verified author Woominkyu, notes that this might be the perfect time for accumulation as the Adjusted Spent Output Profit Ratio (aSOPR) suggests Bitcoin is in a key accumulation phase, signaling a potential price surge soon. Could this be the right time to buy before the next big rally?
aSOPR Hint Major Accumulation Coming
According to Woominkyu, Bitcoin has historically shown consistent behavior during different market cycles. One important tool is the aSOPR, a metric that measures the profit or loss made on spent Bitcoin transactions.
When this figure exceeds 1.08, it typically indicates that whales, or large-scale investors, are taking profits, marking market tops. This is often a sign that the price may peak, prompting cautious traders to anticipate corrections.
At present, the aSOPR is at a much lower 1.01, far from the usual market top indicators. This lower level suggests that the market is in an accumulation phase, where long-term investors can acquire Bitcoin at favorable prices before the next potential rise.
Why Accumulation Matters Now
Looking at past market trends, whales tend to accumulate Bitcoin during periods when the aSOPR is low, typically between 1.01 and 1.04. Once the aSOPR crosses the 1.08 threshold, whales begin to offload their holdings, driving prices higher.
For savvy investors, accumulating Bitcoin before the aSOPR hits 1.04 may offer strong long-term growth opportunities.
Whales Holding BTC Strongly
Whales are rapidly accumulating Bitcoin while retail investors slow down, signaling big moves ahead. Large holders, owning between 1,000 and 10,000 BTC, have added 173,000 Bitcoin this year alone, outpacing the 30,000 BTC added by retail investors.
Additionally, open interest in Bitcoin futures hitting a record $40.5 billion, a potential new high seems within reach.
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