Bitcoin has just triggered one of its most reliable short-term bottom signals. According to new CryptoQuant data, the Short-Term Holder SOPR, a metric that tracks whether recent buyers are selling at a profit or a loss, dropped to 0.94 in November, even as BTC traded between $80,000 and $90,000.
A SOPR reading below 1.0 signifies that short-term holders are realizing losses. Historically, these moments coincide with capitulation events that shake out weak hands and reset the market before sharp rebounds.
The chart, which highlights similar dips in early 2023, late 2023, mid-2024, and now November 2025, illustrates a repeating pattern: short-term selling pressure spikes, the price dips lower, liquidity rotates, and buyers eventually re-enter the market.
CryptoQuant describes the latest drop as a realization of losses rather than an indicator of structural weakness. The broader takeaway mirrors previous cycle behavior; during elevated price ranges, quick sell-offs from recent buyers often signify exhaustion rather than trend breakdowns.
With macro expectations shifting toward possible Federal Reserve easing, analysts view this capitulation as part of a healthy cleansing phase, not the end of Bitcoin’s larger trend. For now, market data points to a familiar setup: a short-term bottom forming through forced selling, historically followed by relief moves as pressure resets.