Summary
- It reported that Bitcoin short-term holders' NUPL has moved into the loss zone.
- Glassnode said this means short-term buyers are, on average, recording losses.
- It noted that historically such periods have often signaled a market reset and a new accumulation cycle.
Bitcoin (BTC) short-term holders' Net Unrealized Profit/Loss (NUPL) has shifted into the loss zone, leading some to claim that a new accumulation cycle could begin.
On the 29th (local time), Glassnode said Bitcoin short-term holders' NUPL entered negative territory. This means short-term buyers are recording an average loss relative to the current Bitcoin price.
Glassnode added, "Historically, this has often coincided with periods when the market resets and has formed the foundation for new accumulation cycles," and "short-term stress has increased, but in the medium to long term it may lead to a reaccumulation phase."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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