NUPL indicator nears bottom trendline, signals risk of Bitcoin selloff

NUPL nears long‑term BTC bottom zone. The monthly reading sits at 22.9 as Bitcoin trades around $74,220.

A single on‑chain setup has flagged every major BTC cycle low for a decade. The monthly chart paired with NUPL is approaching the same level again (NewsBTC).

Past bear‑market lows aligned when NUPL reset deeply and touched a rising trendline. That happened in 2015, 2018, and 2022 (NewsBTC).

Bullish mood has ticked up after a break above $70,000 into the mid‑$70Ks. The fear and greed index also improved (NewsBTC) (NewsBTC).

But the bottom call remains open. Some still expect another washout before a durable low (NewsBTC).

Analyst CrypFlow says NUPL is nearing the historic “bottom” area again. If the pattern holds, sentiment may need a deeper reset first (X).

The data suggests emotional capitulation seen at prior lows may not be complete yet (Bitcoinist).

NUPL at 22.9 implies holders’ aggregate profits have shrunk sharply from the rally to the October 2025 peak above $126,000. One final price drop before the next cycle expansion remains possible, per the analysis (NewsBTC).