{"id":57223,"date":"2022-02-05T14:18:27","date_gmt":"2022-02-05T12:18:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57223"},"modified":"2025-09-04T10:35:43","modified_gmt":"2025-09-04T07:35:43","slug":"asopr-indicator-signals-sharp-deterioration-in-market-sentiment-in-january","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/asopr-indicator-signals-sharp-deterioration-in-market-sentiment-in-january\/","title":{"rendered":"aSOPR Indicator Signals Sharp Deterioration in Market Sentiment in January"},"content":{"rendered":"

Throughout January, amid a falling market, values of the indicator aSOPR (7MA)<\/span> remained below the 1 level, signaling a significant deterioration in market sentiment and investors recording losses. This is described in ForkLog’s analytical report<\/a>.<\/p>\n

\"aSOPR
Dynamics of the aSOPR indicator. Data: Glassnode<\/a>.<\/figcaption><\/figure>\n

On January 21, net realized losses by investors reached $2.5 billion. The last time comparable values appeared was in May and June 2021.<\/p>\n

\"aSOPR
Net realized losses of Bitcoin investors. Data: Glassnode<\/a>.<\/figcaption><\/figure>\n

The share of short-term investors’ assets in the total Bitcoin supply at the end of January stood at more than 18%. Over 90% of coins are \u201cin the red\u201d for holders \u2014 bought at higher prices.<\/p>\n

The share of long-term investors’ assets in the total Bitcoin supply surpassed 80% \u2014 a level near multi-year highs. At the same time, only 6% of coins are \u201cin the red\u201d for their owners.<\/p>\n

\"aSOPR
Share of short- and long-term investors in the overall Bitcoin supply. Data: Glassnode<\/a>.<\/figcaption><\/figure>\n

Since the activation of EIP-1559<\/a> in August 2021, the Ethereum blockchain has burned more than 1.72 million ETH. In January, the protocol burned more than 392 000 ETH. On the 10th, the network set a new historical maximum for this metric (19 424.89 ETH). The burn rate correlates with the asset’s price.<\/p>\n

\"aSOPR
Daily ETH burnt trend. Data: Etherscan<\/a>.<\/figcaption><\/figure>\n

In January, the largest number of \u201cburned\u201d ETH (65,697 ETH) was tied to operations related to the NFT marketplace OpenSea. The reason \u2014 increased trading volume on the platform.<\/p>\n

In February, Fundstrat managing director Mark Newton forecast a \u201cgood probability\u201d of Bitcoin reaching a local bottom<\/a>.<\/p>\n

Earlier in January, JPMorgan analysts cut the fair value estimate for Bitcoin<\/a> from $150,000 to $38,000.<\/p>\n

Follow ForkLog’s Bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Throughout January, amid a falling market, values of the aSOPR (7MA) indicator remained below the 1 level, signaling a significant deterioration in market sentiment and investors recording losses.<\/p>\n","protected":false},"author":1,"featured_media":57224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,46,1145],"class_list":["post-57223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-ethereum","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=57223"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57223\/revisions"}],"predecessor-version":[{"id":57225,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57223\/revisions\/57225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/57224"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=57223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=57223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=57223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}