{"id":607361,"date":"2024-05-10T14:00:42","date_gmt":"2024-05-10T14:00:42","guid":{"rendered":"https:\/\/wncen.com\/?p=607361"},"modified":"2024-06-11T07:01:56","modified_gmt":"2024-06-11T07:01:56","slug":"bitcoin-short-term-nupl-value","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-short-term-nupl-value\/","title":{"rendered":"Bitcoin Short Term NUPL Value Turns Negative, What This Means For Price"},"content":{"rendered":"

Crypto analyst Onchained recently provided valuable insights into an <\/span>important metric<\/span><\/a> that can be used to gauge <\/span>the future trajectory of Bitcoin<\/span><\/a>. The analyst suggested there was no cause to worry at the moment but highlighted what to watch out for to know the right time to exit the market.\u00a0<\/span><\/p>\n

Bitcoin Short-Term Holders NUPL Turns Negative<\/h2>\n

In a blog <\/span>post<\/span><\/a>, the analyst noted that the NUPL (Net Unrealized Profit\/Loss) for Bitcoin\u2019s <\/span>short-term holders<\/span><\/a> recently turned negative. The analyst added that this signals fear among this category of investors, which is very much likely given Bitcoin\u2019s current price action. The last time this trend occurred was shortly after the <\/span>Spot Bitcoin ETFs were approved<\/span><\/a>, with Bitcoin dropping from $49,000 to $38,000 following that occurrence.\u00a0<\/span><\/p>\n

Related Reading: What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts?<\/a><\/p>\n

\"Bitcoin\"<\/p>\n

Source: CryptoQuant<\/pre>\n
While the short-term holders\u2019 NUPL turning red again suggests that a significant price decline may be on the horizon, the analyst remarked that this price level may simply represent a significant support line. The real cause for concern might be when the <\/span>NUPL for mid-term holders<\/span><\/a> also turns negative. \u201cIt could indicate widespread market fear and serve as a crucial risk management indicator for exiting the market,\u201d the analyst claimed.\u00a0<\/span><\/p>\n
It is worth noting that the short-term holder\u2019s NUPL being negative means they are currently seeing an unrealized loss in their investments. This could trigger a wave of sell-offs among these investors, mainly because of fear that <\/span>Bitcoin\u2019s price could further dip<\/span><\/a>. However, based on the analyst\u2019s analysis, this might not significantly lower Bitcoin\u2019s price.\u00a0<\/span><\/p>\n
Instead, market speculators should be more worried about the PUNL of mid-term holders (those who have been holding Bitcoin for 3 to 6 months). The PUNL also turning negative will \u201csuggest widespread pessimism or negative sentiment.\u201d This could lead to <\/span>massive selling pressure<\/span><\/a> on Bitcoin\u2019s price as this category of investors might also offload their holdings out of fear.\u00a0\u00a0<\/span><\/p>\n
The Worst May Already Be Over<\/h2>\n
Crypto analyst Ali Martinez had <\/span>previously shared<\/span><\/a> a similar analysis to Onchained\u2019s, noting that Bitcoin short-term holder\u2019s (STH) realized price was at $59,800. The analyst warned back then that Bitcoin dropping below this level could trigger \u201cnotable Bitcoin price corrections.\u201d Following his prediction, <\/span>Bitcoin fell below $59,800<\/span><\/a>, dropping to as low as $57,000.\u00a0<\/span><\/p>\n
Related Reading: Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here\u2019s Why<\/a><\/p>\n
However, the flagship crypto has since then recovered nicely above $60,000. Although Bitcoin is still showing signs of a bearish outlook, its quick recovery above $60,000 suggests that the worst might be over, and all the crypto token needs right now is a <\/span>catalyst<\/span><\/a> to spark a continuation of its bull run.\u00a0<\/span><\/p>\n
Arthur Hayes<\/span><\/a>, BitMEX\u2019s co-founder and former CEO, also confirmed this belief, noting that Bitcoin has already found its local bottom. However, he <\/span>predicted<\/span><\/a> that Bitcoin will likely have a \u201crange-bound price action between $60,000 and $70,000 until August.\u201d<\/span><\/p>\n
\"Bitcoin<\/p>\n
BTC bulls push price above $63,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Kiplinger, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst Onchained recently provided valuable insights into an important metric that can be used to gauge the future trajectory of Bitcoin. The analyst suggested there was no cause to worry at the moment but highlighted what to watch out for to know the right time to exit the market.\u00a0 Bitcoin Short-Term Holders NUPL Turns Negative In a blog post, the analyst noted that the NUPL (Net Unrealized Profit\/Loss) for Bitcoin\u2019s short-term holders recently turned negative. The analyst added that this signals fear among this category of investors, which is very much likely given Bitcoin\u2019s current price action. The last time this trend occurred was shortly after the Spot Bitcoin ETFs were approved, with Bitcoin dropping from $49,000 to $38,000 following that occurrence.\u00a0 Related Reading: What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts? Source: CryptoQuant While the short-term holders\u2019 NUPL turning red again suggests that a significant price decline may be on the horizon, the analyst remarked that this price level may simply represent a significant support line. The real cause for concern might be when the NUPL for mid-term holders also turns negative. \u201cIt could indicate widespread market fear and serve as a crucial risk management indicator for exiting the market,\u201d the analyst claimed.\u00a0 It is worth noting that the short-term holder\u2019s NUPL being negative means they are currently seeing an unrealized loss in their investments. This could trigger a wave of sell-offs among these investors, mainly because of fear that Bitcoin\u2019s price could further dip. However, based on the analyst\u2019s analysis, this might not significantly lower Bitcoin\u2019s price.\u00a0 Instead, market speculators should be more worried about the PUNL of mid-term holders (those who have been holding Bitcoin for 3 to 6 months). The PUNL also turning negative will \u201csuggest widespread pessimism or negative sentiment.\u201d This could lead to massive selling pressure on Bitcoin\u2019s price as this category of investors might also offload their holdings out of fear.\u00a0\u00a0 The Worst May Already Be Over Crypto analyst Ali Martinez had previously shared a similar analysis to Onchained\u2019s, noting that Bitcoin short-term holder\u2019s (STH) realized price was at $59,800. The analyst warned back then that Bitcoin dropping below this level could trigger \u201cnotable Bitcoin price corrections.\u201d Following his prediction, Bitcoin fell below $59,800, dropping to as low as $57,000.\u00a0 Related Reading: Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here\u2019s Why However, the flagship crypto has since then recovered nicely above $60,000. Although Bitcoin is still showing signs of a bearish outlook, its quick recovery above $60,000 suggests that the worst might be over, and all the crypto token needs right now is a catalyst to spark a continuation of its bull run.\u00a0 Arthur Hayes, BitMEX\u2019s co-founder and former CEO, also confirmed this belief, noting that Bitcoin has already found its local bottom. However, he predicted that Bitcoin will likely have a \u201crange-bound price action between $60,000 and $70,000 until August.\u201d BTC bulls push price above $63,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-607361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Short Term NUPL Value Turns Negative, What 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Short Term NUPL Value Turns Negative, What This Means For Price","url":"http:\/\/wncen.com\/news\/bitcoin-short-term-nupl-value\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-short-term-nupl-value\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_cd5e0e.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_cd5e0e.jpeg?fit=3200%2C1800"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-05-10T14:00:42Z","datePublished":"2024-05-10T14:00:42Z","dateModified":"2024-06-11T07:01:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Short Term NUPL Value Turns Negative, What This Means For Price\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-short-term-nupl-value\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-short-term-nupl-value\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_cd5e0e.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_cd5e0e.jpeg?fit=3200%2C1800\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-05-10T14:00:42Z\",\"datePublished\":\"2024-05-10T14:00:42Z\",\"dateModified\":\"2024-06-11T07:01:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_cd5e0e.jpeg?fit=3200%2C1800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607361"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=607361"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/607373"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=607361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=607361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=607361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}