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CryptoQuant: Bitcoin Net Unrealized Profit Indicates Market May Be Approaching Short-Term Bottom
Summary: According to CryptoQuant analysis, the Bitcoin Net Unrealized Profit (NUP) indicator has dropped to 0.476, falling below the key level of 0.5, historically signaling the formation of a short-term market bottom. The NUP indicator represents the total unrealized profits held by investors currently in a profitable state, with higher values typically indicating stronger selling pressure. ...
According to CryptoQuant analysis, the Bitcoin Net Unrealized Profit (NUP) indicator has dropped to 0.476, falling below the key level of 0.5, historically signaling the formation of a short-term market bottom. The NUP indicator represents the total unrealized profits held by investors currently in a profitable state, with higher values typically indicating stronger selling pressure. Analysts note that the current indicator suggests a significant reduction in selling pressure, potentially leading to a price rebound in the near future. Additionally, data shows that the number of accumulated Bitcoin addresses is reaching a historical high, further supporting the view of a potential rebound.
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Link: CryptoQuant: Bitcoin Net Unrealized Profit Indicates Market May Be Approaching Short-Term Bottom [Copy]
