BlockBeats News, February 6 — On social media, on-chain data analyst Murphy stated that as of February 5, several key long-term holder (LTH) indicators are approaching critical levels: the 7-day EMA of LTH-RPRL (Realized Profit and Loss Ratio) and LTH-SOPR (Spent Output Profit Ratio) have both fallen back to 1, indicating that long-term holders are no longer profitable overall and are on the verge of structural capitulation.
Meanwhile, a large influx of “long-term and loss-making” chips into trading platforms may signal that the market is approaching the “last straw that breaks the camel’s back.” Once LTHs begin to collapse en masse, it often corresponds to the final intense volatility phase of each bear market, and is also the darkest moment before dawn.
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