Bitcoin’s price drop affects 2.7 million BTC in this manner

Source: Glassnode

The significant downward movement of -14.6% from the local peak of $30,900 to the current price of approximately $26,400 has led to 2.71 millionThis has caused the total amount of BTC in a loss to rise from 3.96 million to 6.67 million BTC during this period, marking a substantial increase of 68.4%.The Net Unrealized Profit and Loss measures the overall profitability held withincoin supply. Analyzing the Bitcoin NUPL chart reveals that it began its upward trend above the zero line in January.

As of the press time moment, there were indications of a slight downtrend, although the NUPL remained above zero and displayed a yellow signal. Its value stood at 0.26, suggesting a decrease in unrealized profit despite the recent market decline.Furthermore, there was no significant difference when comparing the NUPL with its adjusted counterpart. The adjusted NUPL is calculated by subtracting the inert BTC supply from the circulating supply. As of this writing, the aNUPL also hovered around 0.

While it maintained this price range, any substantial decline could result in an increase in the number of supply in loss. Conversely, a significant uptrend in price would amplify the number of BTC supply in profit.

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