Bitcoin NUPL For Both Short-Term & Mid-Term Holders Is Neutral Currently
The Bitcoin NUPL (Net Unrealized Profit/Loss) indicator is currently retesting crucial levels, according to on-chain data. The NUPL measures the net amount of profit or loss that investors are currently holding. It looks at the on-chain history of each coin to determine if it is holding a profit or loss based on its last transfer price and the current spot price of Bitcoin.
- The Bitcoin NUPL is neutral for both short-term holders (STHs) and mid-term holders (MTHs).
- STHs are investors who bought their coins within the last six months, while MTHs are those who have been holding their coins for at least six months and up to two years.
- The STH NUPL has been positive throughout the recent rally, reflecting the immediate impact of price rises on their profit/loss status.
- The STH NUPL is currently retesting the zero mark, where unrealized losses equal unrealized profits. This level has historically provided support during bullish trends.
- The MTH NUPL, which was in the negative zone, is also retesting the zero mark. If it breaks through, it could signal a positive sign for the rally.
BTC Price
As of now, Bitcoin is trading around $29,000, experiencing a 1% decline in the last week.
Hot Take
The retesting of crucial levels by the Bitcoin NUPL for both short-term and mid-term holders indicates a neutral market. The upcoming days will determine if these levels provide support or resistance, potentially influencing the market’s direction. Additionally, Bitcoin’s current price reflects a slight decline in the past week.
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