Short-term Bitcoin holders have a NUPL of 8%, and low selling pressure is seen as a bullish signal.

According to BlockBeats, CryptoQuant analyst Axel Adler Jr. stated that short-term Bitcoin holders represent the most aggressive market participants. During bull market cycles, their net unrealized profit and loss (NUPL) typically exceeds 40% before they start taking profits.

Currently, the NUPL of this group is 8%, with its 30-day simple moving average (SMA) remaining at -2%. The selling pressure will remain low until the NUPL breaks above 40%, which is considered a bullish signal.