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.
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 profits/losses they were previously holding are said to be “realized.”
When the value of the NUPL is greater than zero, it means the average investor
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