BTC Holds Price Amid Selling Pressure as Buying Demand Supports

On-chain analytics firm Glassnode analyzed via X that "the current buying demand in the Bitcoin (BTC) market is strong enough to absorb selling pressure." It added that "the main on-chain metric for BTC, Entity-Adjusted SOPR, has consistently remained above 1. This is a typical characteristic seen during bullish markets. However, if SOPR falls below 1 again, it could signal weakening buying demand." SOPR measures whether Bitcoin moved in profit or loss relative to acquisition price, with values above 1 indicating overall profit-taking.