Long Term Holder NUPL

Long Term Holder NUPL is used to track the sum of unrealized profits and unrealized losses of BTC held for ≥ 155 days as a percentage of the current market cap of BTC.

1) When this indicator is less than 0, it means that long-term holders hold BTC at a loss on average, which is historically the bottom range.

2) When the indicator > 0, it means that long-term holders hold BTC in a profitable state on average, and the larger the indicator value, the greater the profit.

1) When the indicator changes from less than 0 for a long time to greater than 0 for a long time, BTC begins to enter a bull market;

2) In a long-term uptrend, when the color of the indicator turns blue (>0.75), historically it often corresponds to the main uptrend of the market.

3) When the value of the indicator reaches near the previous high, it begins to flatten or decline, which is historically the top range.