{"id":339300,"date":"2021-09-14T15:08:16","date_gmt":"2021-09-14T12:08:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bull-run-expected-as-exhausted-bears-sell-at-a-loss\/"},"modified":"2021-09-14T15:08:16","modified_gmt":"2021-09-14T12:08:16","slug":"bitcoin-bull-run-expected-as-exhausted-bears-sell-at-a-loss","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bull-run-expected-as-exhausted-bears-sell-at-a-loss\/","title":{"rendered":"# Bitcoin bull run expected as \u2018exhausted\u2019 bears sell at a loss"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36ea464150b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36ea464150b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bull-run-expected-as-exhausted-bears-sell-at-a-loss\/#Bitcoin_bears_run_out_of_FUD\" >Bitcoin bears run out of FUD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-bull-run-expected-as-exhausted-bears-sell-at-a-loss\/#MicroStrategy_courts_custodian_theories\" >MicroStrategy courts custodian theories<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin bull run expected as \u2018exhausted\u2019 bears sell at a loss <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) bears are \u201cexhausted\u201d and are even selling at a loss this week, fresh data confirms.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1437713693937123335\">tweet<\/a> on Tuesday, Philip Swift, an analyst at trading suite platform Decentrader, espied an ongoing bullish trend in spent output profit ratio (SOPR).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_bears_run_out_of_FUD\"><\/span>Bitcoin bears run out of FUD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>SOPR, a classic metric for determining oversold periods on Bitcoin markets among other things, flipped to \u201cbuy\u201d for the first time since July last week.<\/p>\n<p>Last time, BTC\/USD then launched to local highs of $53,000 over the subsequent few weeks, and hopes are now high that a repeat will materialize.<\/p>\n<p>\u201cWe have seen more on-chain selling at a loss over the past few days,\u201d Swift commented. <\/p>\n<blockquote><p>\u201cThis is bullish, particularly after the aggressive summer sell-off. Bears are getting exhausted. Time for the bitcoin bulls to take over very soon.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/9cc6cd08-8cdf-46e0-92f2-174898b6f875.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin SOPR chart. Source: Decentrader<\/em><\/figcaption><\/figure>\n<p>SOPR is far from the only Bitcoin market component calling for a return to a bullish upside. Investors themselves are betting on continuation, adding to positions both large and small despite last week\u2019s price dip.<\/p>\n<p>A dramatic ongoing reduction in available liquid BTC supply has the potential to compound a spot price squeeze higher, others <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BTC_Archive\/status\/1437388935752204291\">note<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"MicroStrategy_courts_custodian_theories\"><\/span>MicroStrategy courts custodian theories<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One cohort of BTC investors who is certainly not selling are institutions, evidenced by MicroStrategy\u2019s 5,050-BTC additional buy-in announced Monday.<\/p>\n<p><strong><em>Related:\u00a0Institutional traders flock to Solana as demand for ETH and BTC flattens<\/em><\/strong><\/p>\n<p>For analyst Willy Woo, who released an updated chart of corporate BTC holdings, it is now increasingly <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent that the firm is acting as a Bitcoin custodian for others.<\/p>\n<p>\u201cIn case people wonder why MicroStrategy is such a large holder. I think public companies find it easier to buy a convertible debt instrument from MicroStrategy to gain BTC exposure than to hold the underlying asset. IMO MicroStrategy hold BTC for many companies,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/woonomic\/status\/1437399879328829442\">wrote<\/a> in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> discussion.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/cbc1434f-f363-4e53-b365-1d6c2d45af4e.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Public companies&#8217; BTC holdings annotated chart. Source: Willy Woo\/Twitter<\/em><\/figcaption><\/figure>\n<p>MicroStrategy\u2019s total BTC allocation is now in excess of 114,000 BTC, with its average purchasing price at just above $27,700 \u2014 40% below the current spot price.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-bull-run-expected-as-exhausted-bears-sell-at-a-loss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin bull run expected as \u2018exhausted\u2019 bears sell at a loss &#8221; Bitcoin (BTC) bears are \u201cexhausted\u201d and are even selling at a loss this week, fresh data confirms. In a tweet on Tuesday, Philip Swift, an analyst at trading suite platform Decentrader, espied an ongoing bullish trend in spent output profit ratio (SOPR)&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":339301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvYjlkNjNiOTAtNjgxNS00ZmY5LTlkODEtZWRjZmY3YWU5NWQzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-339300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/339300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=339300"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/339300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/339301"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=339300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=339300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=339300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}