Bitcoin sits near $94K as profit metrics match levels seen before past price rallies
The chart shows cooling after overheating which may lead to bullish movement
Realized profits are rising again which may help support a move above $100K soon
Bitcoin's Net Realized Profit and Loss (NRPL) chart signals bullish potential as current levels align with historical pre-rally zones. The metric shows recent cooling after overheating phases at $100K and $90K, followed by indicators historically linked with bottom formation and strong upside recovery. With Bitcoin now near $94K, the market may be preparing for another breakout.
https://twitter.com/misterrcrypto/status/1917308657768743313 Profit and Loss Patterns Suggest Market Cycle Progression
The NRPL chart reveals consistent patterns over time, mapping emotional and strategic phases in Bitcoin’s price cycles. During peaks in March 2024 and November 2024, the realized profits spiked above $8B. Both instances were marked as “Over Heating,” signaling market tops and following corrections.
Sharp declines in realized profits marked bottom zones, such as in July 2024 and March 2025. These areas, highlighted as “Bottom,” showed low net activity due to reduced selling and weak market participation. Historically, these phases preceded new accumulation and later bullish momentum.
In April 2025, the realized profit line showed a rapid surge from lower zones, suggesting new entries or revived confidence. This “Ready to Bull” marker has previously aligned with phases that led Bitcoin to climb. The structure appears consistent with late-2024 and early-2025 recovery trends.
Bitcoin Holds Above $90K While Confidence Builds
Bitcoin’s current price hovers at $94K, stabilizing after volatile moves between $70K and $100K in recent months. The market shows consolidation, with realized profit levels suggesting support for continued upside. Historically, strong net realized profits after a low phase often signal sustainable rallies.
Traders view this NRPL pattern as a sign of macro market strength. It implies investors are no longer realizing losses and are instead securing gains during upward moves. This change in flow usually results from rising demand and reduced panic selling.
Additionally, the price line on the NRPL chart has begun a steady ascent since late March 2025. This aligns with previous “Ready to Bull” setups where profit-taking slowed, and holding behavior increased. The market now awaits confirmation through volume or trend continuation.
Will This Signal Fuel the Next Bitcoin Rally?
The pivotal question remains: Will this shift in net realized profits drive Bitcoin toward a new all-time high beyond $100K?
The NRPL indicator reflects a cooling from earlier overheating phases. When realized profits return to neutral levels following sharp highs, markets often reset before making the next move. The chart now mirrors late-2023 patterns that preceded extended climbs.
