Bitcoin's short-term holder spending output profit ratio (STH-SOPR) has fallen to 0.992, marking its lowest point since April, according to CryptoQuant data. This decline suggests that short-term holders are selling at a loss, reflecting heightened selling pressure and a potential shift in market sentiment. Historically, a drop in the STH-SOPR below 1.0 often precedes market stabilization, as weaker investors exit and long-term holders absorb the available supply. This trend could indicate a period of consolidation for Bitcoin as the market adjusts to the current selling dynamics.