Bitcoin’s Net Unrealized Profit/Loss (NUPL) is currently near 0.1, while BTC trades around $66.7K.

NUPL measures the unrealized profit or loss held across the Bitcoin market. A lower reading suggests that holders are carrying less unrealized profit than they were near the cycle highs—meaning the market is no longer in an overheated euphoria phase.

Historically, this green zone has reflected a more cautious market environment, where conviction is rebuilding and excessive profit-taking has cooled down.

This is not automatically bullish or bearish, but it shows sentiment has reset significantly compared with the highs. The key question now: can Bitcoin build momentum from here? 👀

Written by Zakariya Sharif