Bitcoin Up $18,000, But HODLer Profits Same As On April 1—Here’s Why
The Net Unrealized Profit/Loss (NUPL) for Bitcoin long-term holders (LTHs) is currently at 0.69, the same level as when Bitcoin was priced at $85,000. The NUPL measures the difference between unrealized profits and losses among Bitcoin investors. A positive NUPL indicates more profit than loss. The LTHs, defined as those holding Bitcoin for over 155 days, have maintained a positive NUPL for the past year, despite price volatility. Recent price recovery has not significantly increased the NUPL, which has seen a sharp decline even as Bitcoin's price remains stable. This decline is attributed to new buyers from December 2024 entering the LTH group, diluting unrealized gains. Bitcoin's current price is approximately $103,500, reflecting a 1% increase in the last 24 hours.
