The short-term outlook favored a deeper correction toward $58k. On the other hand, the past week saw Bitcoin continue to leave exchanges.page about how the current Bitcoin uptrend could be nearing its end. They explored the NUPL metric and what it could mean for BTC investors.The Net Unrealized Profit/Loss is a useful tool for identifying when investors are in profit. Its calculation involves the realized cap of Bitcoin to understand investor profitability better.
From December 2020 to April 2021, the NUPL was consistently above +0.6 as Bitcoin rallied from $19k to $60k.
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