According to PANews, CryptoQuant analyst Axel Adler Jr has highlighted that Bitcoin's current monthly price stands at $110,700, slightly above the short-term holder realized price of $107,600. This level is considered a crucial monthly bull market support. The overall realized price is $52,800, while the long-term holder realized price is $35,600, with the current price significantly exceeding both, confirming a structural uptrend.
Additionally, the Net Unrealized Profit/Loss (NUPL) indicator is at 0.53, indicating that the market is broadly in a profitable state, though it has not reached the extreme levels seen in previous cycles. The higher time frame remains bullish, but the market is still in a recovery phase and sensitive to profit-taking. The key reference point is the short-term holder realized price of $107,000, maintaining this area will support the continuation of the upward trend. Currently, the NUPL does not show signs of final euphoria, suggesting there is room for further growth after consolidation.
