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Net Unrealized Profit/Loss (NUPL)

PreviousSTH Released PriceNextMVRV-Z Score

Last updated 1 month ago

What is NUPL? Unrealized Profit and Loss On-Chain Data

NUPL Bitcoin: Net Unrealized Profit/Loss (NUPL) represents the unrealized profit or loss of Bitcoin investors. Simply put, it answers the question: If all Bitcoins were sold today, how much profit or loss would investors realize? This on-chain indicator provides insights into the unrealized profit/loss in the market. The formula below explains how it is calculated.

What is NUPL?

The critical threshold for NUPL is 50. Historically, after falling below 50, the market has always entered the capitulation zone without significant pullbacks. The capitulation zone is defined as a NUPL value below 0.

In general, the further NUPL deviates above zero, the closer the market is to a peak. Conversely, as NUPL trends downward, the "fear" among buyers and sellers tends to increase.

In summary:

  • NUPL > 0 indicates the market is in profit.

  • NUPL < 0 indicates the market is at a loss.

The closer NUPL gets to its extremes, the closer the market is to significant peaks or troughs. To make it easier to understand, charts often use color coding, helping investors decide when to take profits or re-enter the market.

What Makes Our Version Different?

Our version of NUPL stands out because the charts are created using block-based data. This approach offers several advantages:

  • Detailed Market Cycle Analysis: Block-based data allows users to gain a deeper understanding of market cycles.

  • Up-to-Date Information: Block-based data provides the most current on-chain insights to users.

  • Faster Detection of Market Trends: With real-time analysis enabled by block-level data, market movements can be identified and analyzed more efficiently.

Additionally, there is an opposite metric that calculates realized profit and loss. This answers the question: If all Bitcoins were sold today, how much profit or loss would be realized?