[Analysis: Bitcoin SOPR Records Longest Profit Streak Since 2026, Potentially Signaling Early Bull Market Recovery Phase] According to Cointelegraph, on-chain data shows that Bitcoin's Spent Output Profit Ratio (SOPR) has remained above the breakeven point of 1 for three consecutive weeks since August 19, marking the longest continuous profit streak since 2026. The current SOPR value is 1.002, indicating that most coins moving on-chain are in a profitable state, which typically reflects overall bullish market momentum. On-chain analytics suite Checkonchain pointed out that rebounds into the profit zone during bear markets are often met with sell-offs, but the current structure more closely resembles an early bull market recovery phase. The SOPR performance of short-term holders (STH) also supports this assessment. However, analyst David Puell cautioned that SOPR needs to maintain a bullish trend over a longer period, as BTC prices still face downside risks.