Bitcoin NUPL Shows Average Holder Back In Profit, But For How Long?

On-chain data shows the Bitcoin NUPL metric is back to a positive value, suggesting the market as a whole is back in profit.
Bitcoin NUPL Latest Trend Could Signal The Bottom Is Already In
As pointed out by an analyst in a CryptoQuant post, the BTC NUPL breaking above the neutral market may be a sign that the bottom has set in.
The “Net Unrealized Profit/Loss” (or “NUPL” in short) is an indicator that’s defined as the difference between the market and realized caps,