By Bitcoin Tydskrif - 2 jaar gelede - Leestyd: 2 minute
NUPL-analise wys Bitcoin Mark in 'n gesonde toestand van ongerealiseerde wins
Bitcoin's net unrealized profit/loss (NUPL) indicator shows the market is in a healthy state of unrealized profit compared to previous cycles.
Die onderstaande is uit 'n onlangse uitgawe van die Deep Dive, Bitcoin Tydskrif se premiummark nuusbrief. Om onder die eerstes te wees wat hierdie insigte en ander on-chain ontvang bitcoin markontleding direk na u inkassie, skryf nou.
In die November Maandverslag, we talked about the Net Unrealized Profit/Loss (NUPL) indicator showing the market in a healthy state of unrealized profit compared to previous cycles. We can further break down that indicator into short-term holder and long-term holder groups.
As for short-term holders, one of the biggest near-term concerns is that there are increasing unrealized losses in the market. As price continues to range below the short-term holder cost basis around $53,000, there’s a rising risk that more of the new buyers capitulate and sell their bitcoin at a loss, driving the price lower. This can be a bear market forming or an opportunity for holders to buy cheaper bitcoin.
Periods of sustained, short-term holder capitulation spark new bear markets as new, short-term holder buying is the main bull cycle driver. Yet, we can see in many bull market dynamics that the rising unrealized losses of short-term holders is common and can be short-lived as long as long-term holders have conviction, waiting out for higher prices.
This is a different story for long-term holders who seem fairly comfortable and largely in a healthier state of profit at the current price relative to their realized price (cost-basis). So far with the latest price drawdown, long-term holder supply is in a slightly declining to neutral state. There’s healthy, not excessive profit taking right now signaling a market on hold in a ranging and consolidating state.
Oorspronklike bron: Bitcoin Tydskrif