**[Analysis: Bitcoin Profitability Ratio Drops to Two-Year Low, Market May Enter "Sell Exhaustion" Phase]** Odaily Planet Daily News: On-chain analytics platform CryptoQuant pointed out that Bitcoin's SOPR ratio (LTH-SOPR / STH-SOPR) has fallen to 1.35, marking its lowest level since early 2024 and coinciding with the price correction to $89,700. Typically, a higher ratio indicates that long-term holders (LTH) are profiting more actively compared to short-term holders (STH). However, this sharp decline suggests that selling pressure from older coins has significantly weakened, and the actual profit gap between the two groups is narrowing, signaling the market is entering a new "reset" phase. CryptoQuant stated that historically, when this indicator drops to a similar range during a bull market phase, it often signals that selling is nearing its end. If the ratio stabilizes or rebounds around 1.35, it could indicate that a local bottom is gradually forming, laying a healthier foundation for subsequent market trends.