Bitcoin’s 11-Month Selling Pressure Breaks: Price Holds Firm Despite Profit-Taking

As the nearly 11-month period of Bitcoin investors selling at a loss or break-even comes to an end, the price holding steady despite profit-taking signals a potential cycle shift.

Long-standing selling behavior in Bitcoin has shown a significant shift in on-chain data. CryptoQuant noted that the nearly 11-month pressure on the SOPR indicator, which tracks whether Bitcoin is changing hands at a profit, loss, or break-even, has been broken. During this period, investors mostly sold at a loss or at cost.

The indicator remained under pressure during the decline that began after Bitcoin peaked at approximately $120,000 in October 2025. The price dropped to around $58,000 in July 2026. However, the picture has recently begun to change. Despite profit-taking observed during every rally, the Bitcoin price is holding firm by absorbing these sales.

Critical breakout in the Bitcoin SOPR indicator

When SOPR stays below the level of 1, it indicates that investors moving their coins are generally selling at a loss. The indicator rising back above 1 suggests that periods of selling at a profit are gaining strength. In the final section of the chart, it is observed that the SOPR line has moved above level 1 and made significant jumps.

This movement brings the possibility of a transition from a bear cycle to a bull cycle for Bitcoin. Data shows that after a prolonged period of selling at a loss, the market has begun to absorb profit-taking. In the final part of the chart, the Bitcoin price is at approximately $77,300.