Bitcoin (BTC) Decline Creates Prime Accumulation Opportunity, On-Chain Analyst Says

Bitcoin’s recent sell-off has presented a prime opportunity for accumulation, according to CryptoQuant analyst Mac_D.

While the token has shown no signs of strength following its sell-off from weekly highs of $103,000 on Monday, Mac_D said that long-term metrics suggest the market’s upward trend remains intact.

The analyst reported on Thursday that the current bearish sentiment aligns with a dip in Bitcoin’s short-term SOPR (Spent Output Profit Ratio), which has fallen to 0.987.

This metric indicates that investors holding Bitcoin for less than six months are now selling at a loss.

Mac_D noted that such periods of short-term investor losses have historically presented favorable accumulation opportunities.

“When short-term investors incur losses, long-term cycle indicators like MVRV, NUPL, and the Puell Multiple often show that the market remains in an upward trend,” he said.

He added that the current correction does not suggest a cycle peak, and savvy investors may seize the opportunity to accumulate Bitcoin at discounted prices.