[Analysis: Long-Term Holder SOPR Falls Below 1 for the First Time Since the End of the 2023 Bear Market] Odaily Planet Daily News – Crypto analyst Darkfost posted on the X platform, stating that long-term holders (LTH) are showing early signs of stress. As the market correction continues, according to the SOPR indicator (Spent Output Profit Ratio), long-term holders are starting to come under pressure. Although the annual average value of the long-term holder SOPR is 1.87, the indicator has fallen below the threshold of 1 to 0.88, marking the first time this has occurred since the end of the 2023 bear market. This indicates that long-term holders are gradually beginning to sell at a loss, reflecting rising market pressure. However, this trend has not yet been fully established. From the perspective of the monthly average, the SOPR remains at 1.09, indicating that over a broader time frame, most sales are still profitable. Therefore, the market has not yet entered the true capitulation phase for long-term holders. These are merely early signs of weakening sentiment, which could dissipate if the market stabilizes, or intensify if selling pressure persists.