On-chain data shows the Bitcoin Net Unrealized Profit and Loss (NUPL) has found rejection at the long-term resistance zone recently.
Bitcoin NUPL Has Observed Some Decline In Recent Days
As explained by an analyst in a CryptoQuant post, the BTC NUPL metric has failed to clear a major resistance. The “NUPL” is an indicator that tells us about the degree of unrealized profit or loss that’s currently being held by the investors.
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By “unrealized,” what’s meant here is that the holders have accumulated profits/losses (due to the price being more/less than what they purchased the coins at), but they are yet to actually sell their BTC to set them in stone.
When such investors who are holding unrealized profits/losses do end up selling eventually, the
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