Analyst says long-term Bitcoin holders may be approaching the final sharp drop of the bear market

On February 6, on-chain data analyst Murphy stated that as of February 5, several bitcoin long-term holder (LTH) indicators are approaching critical points: both the 7-day EMA of LTH-RPRL (Realized Profit and Loss Ratio) and LTH-SOPR (Spent Output Profit Ratio) have fallen back to 1, indicating that long-term holders as a whole are no longer profitable and are on the verge of structural capitulation. A large amount of long-term loss-making coins are flowing into exchanges, which may suggest that the market is approaching the final phase of intense volatility in the bear market.