Bitcoin's price has dropped below the average purchase cost of short-term holders, according to CryptoQuant analyst @AxelAdlerJr. The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) over 30 days has decreased to 0.98, suggesting increased selling pressure from new market participants. The SOPR metric, which measures the average profit or loss of short-term holders' sales, indicates a loss when below 1 and a profit when above 1. A key signal for market reversal typically involves the price rising above the STH actual price and the SOPR returning to above 1.