By Bitcoin 雜誌 - 2 年前 - 閱讀時間：2 分鐘
NUPL Analysis Shows Bitcoin Market In Healthy State Of Unrealized Profit
Bitcoin未實現淨損益（NUPL）指標顯示，與之前的周期相比，市場處於未實現利潤的健康狀態。
以下內容來自最近一期的 Deep Dive， Bitcoin 雜誌的優質市場通訊。 成為第一批獲得這些見解和其他鏈上信息的人 bitcoin 市場分析直接發送到您的收件箱， 現在訂閱.
在 11月月報, 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.
對於短期持有者來說，近期最大的擔憂之一是市場未實現損失不斷增加。 隨著價格繼續低於 53,000 美元左右的短期持有者成本基礎，更多新買家投降並出售其資產的風險不斷上升。 bitcoin 虧損，導致價格走低。 這可能是熊市的形成，也可能是持有者以更便宜的價格購買的機會 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.
原始來源： Bitcoin 雜誌