Bitcoin Long-Term Holder NUPL Stays at 0.69 Despite Price Rise

On-chain data indicates that the profit margin for Bitcoin long-term holders (LTHs) is currently at a level comparable to when BTC was priced at $85,000.

Bitcoin Long-Term Holder NUPL at 0.69

The Net Unrealized Profit/Loss (NUPL) for Bitcoin LTHs has returned to 0.69, as reported by Glassnode.
NUPL tracks the difference between unrealized profits and losses among BTC investors.
A positive NUPL indicates more profits than losses; a negative value suggests holders are at a loss.
LTHs are defined as investors holding BTC for more than 155 days.
The NUPL for LTHs has remained above zero over the past year, indicating profitability for these holders.
Recent price fluctuations have affected the NUPL metric, which saw extreme values during the late 2024 bull run.
Despite recent price recovery, the NUPL retraced sharply, reflecting changes in the holder cohort.
This shift includes new buyers from December 2024, which diluted the unrealized gains among existing LTHs.

BTC Price Update

Currently, Bitcoin is priced at approximately $103,500, showing an increase of over 1% in the last 24 hours.