Bitcoin (BTC) witnessed a notable price surge in the past week, climbing well above the previously coveted $30,000 mark. The sharp increase affected all market participants, especially the short-term holders. These are entities or individuals who’ve held onto their Bitcoin for less than 155 days. Their behavior, particularly during market rallies, offers valuable insights into market sentiment and potential future movements.
Short-Term Holder NUPL (STH-NUPL), or Net Unrealized Profit/Loss, is a specialized metric that zeroes in on unspent transaction outputs (UTXOs) younger than 155 days, serving as a barometer to gauge the sentiment of these newer market participants. When STH-NUPL is positive, it signals that, on average, these holders are sitting on net unrealized gains, indicating their acquisition price is lower than the current market price.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.