$Bitcoin Long-Term Holder SOPR is giving noteworthy signals.

The index has returned to the <1 region, an area previously seen at major lows in 2015, 2019, and 2022.
This suggests that the majority of Long-Term Holders have completed their distribution process, and those still holding are largely unwilling to sell at the current price.
An LTH SOPR below 1 doesn't confirm an absolute bottom, but history shows this is often the initial stage of a bottoming and reversal process.
If the SOPR soon regains the 1.0 mark and remains above it, it would be a signal that long-term capital is returning to the market.
A bottom is usually formed when long-term holders stop selling, not when news breaks.