On-chain data shows the profit margin of the Bitcoin long-term holders is currently the same as when BTC was still $85,000. Here’s what’s behind this.
Bitcoin Long-Term Holder NUPL Has Returned To 0.69
In a new post on X, the on-chain analytics firm Glassnode has talked about the trend in the Net Unrealized Profit/Loss (NUPL) for the Bitcoin long-term holders. The NUPL is an indicator that keeps track of the difference between the unrealized profit and unrealized loss held by the BTC investors as a whole.
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When the value of this metric is positive, it means the holders are carrying more profit than loss. On the other hand, it being under zero suggests the average address is underwater.
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