For the first time since June, #Bitcoin has seen a greater volume of Profits realized on-chain than losses.

During bear cycles, this tends to act as a psychological level where investors sell at, or near break-even, creating resistance.

A convincing break above 1.0 for Realized P/L Ratio, or aSOPR has historically signalled a cycle regime shift is underway.

A successful retest and bounce of aSOPR from 1.0 is often observed near cycle turning points.

Read our Full Analysis in The Week On-chain