Short Term Holder NUPL

Short Term Holder NUPL is used to track the sum of unrealized profits(Positive number) and unrealized losses(negative number) of BTC held for less than 155 days as a percentage of the current market cap of BTC.

1）When this indicator value is less than 0, it means that short-term holders hold BTC at an average loss.

2）When this indicator value is greater than 0, it means that short-term holders holding BTC are in a profitable state on average.

3) The indicator value = 0 is the cost line for short-term entrants, so it is usually an important support or resistance line for price.

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）when the indicator changes from a long term greater than 0 to a long term less than 0, BTC begins to enter a bear market;

3）when the indicator turns from a low point to an uptrend, historically, it often corresponds to the short-term bottom of the market.