NRPL Returns to Neutral — $BTC Enters a "Quiet Equilibrium" Phase

Bitcoin's Net Realized Profit/Loss (NRPL) has returned to zero after a burst of volatility, signaling the market is resetting. Between Nov 22–24, NRPL saw sharp swings characterized by deep negatives followed by strong positives, but from November 25 onward, those extremes collapsed into balance. This is a classic post-flush pattern: forced sellers are gone, profit-takers are done, and the market's internal pressure has equalized.

The key insight: neither profit realization nor loss realization is currently dominating. When NRPL converges near zero, it reflects a ceasefire between buyers and sellers, a moment where the market catches its breath before choosing its next direction.

Bitcoin's price action mirrors this dynamic. Trading steadily around $90,000, BTC is showing neither aggressive selling pressure nor decisive buying momentum. Historically, phases of NRPL neutrality often appear right before a new trend forms, as liquidity and sentiment reload beneath the surface.

What happens next depends on the NRPL trajectory:

Holding above zero means the demand is strengthening, base-building for a push higher.

Falling back to negative implies a renewed stress or seller-driven weakness.

For now, the data suggests the clearing phase is over. Bitcoin is in a quiet equilibrium, the calm that typically precedes the next major move. #BTC #CryptoMarket $ETH