On-chain data shows the Bitcoin NUPL metric currently has values that would suggest the bear market is yet to hit in full swing, if the coin is in one.
Bitcoin NUPL Value Still Not As Low As Previous Bear Markets
As pointed out by an analyst in a CryptoQuant post, the BTC NUPL metric suggests market hasn’t neared a bear market bottom yet.
The “net unrealized profile/loss” (or NUPL in short) is an indicator that tells us about the ratio of profit and loss in the Bitcoin market.
The metric’s value is calculated by taking the difference between the market cap and the realized cap, and dividing it by the market cap.
When the NUPL has a value greater than zero, it means there are more coins in profit than ones in loss at the moment.
On the other hand, negative values of the indicator imply that investors are, on average, in a state of loss right now.
Related Reading ..
Support the originator by clicking the read the rest link below.
