Bitcoin Bearish Signal: NUPL Finds Rejection At Long-Term Resistance
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On-chain data shows the Bitcoin Net Unrealized Profit and Loss (NUPL) has found rejection at the long-term resistance zone recently. Bitcoin NUPL Has Observed Some Decline In Recent Days As explained by an analyst in a CryptoQuant post, the BTC NUPL metric has failed to clear a major resistance. The “NUPL” is an indicator that tells us about the degree of unrealized profit or loss that’s currently being held by the investors. By “unrealized,” what’s meant here is that the holders have accumulated profits/losses (due to the price being more/less than what they purchased the coins at), but they are
On-chain data shows two Bitcoin indicators are currently retesting levels that have historically been relevant for the market’s course. Bitcoin NUPL For Both Short-Term & Mid-Term Holders Is Neutral Currently As pointed out by an analyst in a CryptoQuant post, the BTC NUPL has been retesting crucial levels recently. The…
As the price of Bitcoin increases, more and more on-chain signals point to an overheating cryptocurrency market. These signals are proving to be particularly relevant in the context of Bitcoin’s impending halving. bitcoinlinux presents 4 on-chain signals that indicate the possibility of an impending correction. This is especially relevant from…
Bitcoin’s price continues its decline, falling farther from its March all-time high of $109,000. Currently trading below $82,000, the cryptocurrency has experienced a significant 24.6% drop. Amid this bearish trend, CryptoQuant contributor EgyHash has highlighted a troubling development on Binance that could further pressure Bitcoin’s price. Bearish Sentiment Takes Hold…
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