SOPR has been below 1 for months, indicating that capitulation selling is not yet over, and the true bottom signal will still need to wait.

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CoinNetwork
Coin World News, according to CryptoQuant analyst Axel Adler Jr., the 30-day average inflow of Bitcoin to exchanges rose to 122,000 BTC, about 50% higher than the average during the sell-off in February, and is now approaching the 131,000 BTC upper-band range. During the same period, the Bitcoin price fell from $77,000–$78,000 to about $59,000. The 30-day average of SOPR dropped to 0.99, staying consistently below the key level of 1.0, with the market in a state of average realized losses. From May to July, the SOPR indicator was below 1.0 on 37 of 61 days.
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