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Bitcoin SOPR Sentiment Indicator

Live Spent Output Profit Ratio from the CoinMetrics Community API — updated daily, free, no login required. A direct read on whether Bitcoin being moved on-chain today is sold for a profit or a loss.

0.9929Stress Zone

Some selling at a loss; weak hands are exiting while the market attempts to recover.

Updated daily · CoinMetrics Community API · Thu, 09 Jul 2026 14:30:37 UTC

365-day SOPR history
7-day SMADaily
0.900.951.001.051.101.152025-072025-092025-112026-012026-032026-052026-07
CapitulationStress ZoneRecovery PhaseProfit-Taking Zone
Current SOPR
0.9929
7-Day SMA
0.9981
30-Day Avg
0.9937
Distance from 1.0
-0.0071

What is SOPR?

The Spent Output Profit Ratio (SOPR) measures whether Bitcoin being moved on-chain today is, on average, sold for a profit or a loss. It is computed as the ratio of the realised value at the time of spending to the value at the time of creation for each spent output.

A SOPR above 1.0 means the average on-chain mover is selling at a profit. A SOPR below 1.0 means they are selling at a loss — historically observed during capitulation phases. The 1.0 level acts as a key support/resistance pivot in trending markets.

Zone thresholds
Capitulation< 0.95
Stress Zone0.95–1.00
Recovery Phase1.00–1.05
Profit-Taking Zone> 1.05

On-chain data and market information only — not financial advice. Past on-chain patterns do not guarantee future price outcomes.

Frequently asked questions

What is Bitcoin SOPR (Spent Output Profit Ratio)?
SOPR measures whether Bitcoin being moved on-chain today is, on average, sold for a profit or a loss. It is computed as the ratio of the realised value at the time of spending to the value at the time each spent output was created.
What does a SOPR above or below 1.0 mean?
A SOPR above 1.0 means the average on-chain mover is selling at a profit. A SOPR below 1.0 means they are selling at a loss — historically observed during capitulation phases. The 1.0 level acts as a key support/resistance pivot in trending markets.
What are the Capitulation, Stress, Recovery, and Expansion SOPR zones?
These are the four zone thresholds this page labels the current reading against: Capitulation is below 0.95, Stress Zone is 0.95–1.00, Recovery Phase is 1.00–1.05, and Expansion is above 1.05 — a quick read on where today’s on-chain profit-taking sits relative to the 1.0 pivot.
Is SOPR a reliable trading signal on its own?
SOPR is on-chain data and market information, not financial advice — past on-chain patterns do not guarantee future price outcomes. It is best read as one contextual data point (alongside the 7-day SMA and 30-day average shown on this page) rather than a standalone basis for decisions.

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Data sourced from the CoinMetrics Community API (free, public). Figures are informational only and do not constitute financial advice. Liquid State · crypto market intelligence.