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LTH NUPL

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Price update 59 minutes ago
UTXO update 59 minutes ago

LTH NUPL Explained

NUPL (Net Unrealised Profit/Loss) measures whether the average coin in the market is in profit or loss relative to when it last moved.

  • NUPL = (Market Cap − Realized Cap) / Market Cap
  • LTH NUPL — using the Long Term Holder Realized Price (coins not moved for > 155 days).

Long-term holders are almost always in profit, so instead of a simple profit/loss split, the bars are color-coded by how much unrealised profit they hold. This makes it easy to spot where Bitcoin sits in its cycle at a glance.

Reading the Color Bands

  • Overheated (above 0.75) — long-term holders are sitting on enormous gains. Historically a distribution zone that lines up with cycle tops.
  • Profit-Heavy (0.5 – 0.75) — strong unrealised profit, typically the late stage of a bull market.
  • Healthy (0.25 – 0.5) — moderate profit, the mid-cycle "normal" range.
  • Recovering (0 – 0.25) — small profit, usually early in a recovery after a bottom.
  • Underwater (below 0) — even long-term holders are at a loss. These periods have marked major capitulation bottoms.

Toggle the white NUPL line from the legend to compare against the market-wide reading.

Disclaimer
Any information found on this page is not to be considered as financial advice. You should do your own research before making any decisions.

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