BlockBeats News, December 18, CryptoQuant analyst @AxelAdlerJr stated in a post that the Bitcoin price has dropped below the average buy price of short-term holders (i.e., the STH-SOPR (30D) shown in the chart has dropped to 0.98). Two on-chain indicators indicate that selling pressure from new market participants is increasing.Specifically, the SOPR 30D indicator measures the average token sale of short-term holders: above 1 indicates profitable sales, below 1 indicates loss-making sales. The chart shows that the 30-day SOPR moving average has dropped to the 0.98 region, indicating that on average, short-term holders are selling tokens at a loss. Further decline in this indicator will intensify selling pressure and lead to new local lows.The current market sentiment is strongly risk-averse for short-term holdings. Key reversal confirmation signals: price rises above the actual STH price and SOPR rises above 1.

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