Whenever Bitcoin has gone above 0.75 into the "blue" or hysteria category the market has ended not long after. According to Glassnode, Bitcoin’s Net Unrealized Profit/Loss (NUPL) index has reached a level that historically indicates the price will continue to an order of magnitude higher.. The chart above suggests that the current correction is coming to an end, providing a bullish signal. Discover new cryptocurrencies to add to your portfolio. For the Bears. It has marked the TOP of the market since inception. Glassnode Studio is your gateway to on-chain data. The chart below highlights the magnitude Bitcoin has rallied after the NUPL hit 0.6. Bitcoin's NUPL (Net Unrealized Profit/Loss) is getting close to exceeding the green "Belief" range and moving into the blue "Euphoria" range. Designed to give clarity to Bitcoin investors. “Bitcoin investor sentiment: Net Unrealized Profit/Loss (NUPL) has been in the “Belief” zone for the past week. In 2011 Bitcoin rallied over 3,000% and traded highs of $18. Analytics platform Glassnode spoke about this indicator in a recent tweet, pointing to the below chart showing the historical significance it has. A key metric compiled by on-chain analytics company Glassnode points to Bitcoin’s current bull rally taking the price as high as $590,000.. Consequently, in 2013, BTC spiked by more than 800% to exchange hands at $165 after the NUPL shot up from 0.6 to 0.8. Bitcoin Price (BTC). Explore data and metrics across the most popular blockchain platforms. LookIntoBitcoin provides live Bitcoin charts and information using market cycle and on-chain analysis. Today, I want to explain why the NUPL chart will not accurately predict this cycle's top. LTH-NUPL serves as an indicator of profit and loss, as assessed by the behaviour of long-term investors. Learning tools for Bitcoin investing. Bitcoin has had a turbulent history, with huge price surges and devastating price corrections being a recurring theme over the years. One of the biggest data points in Bitcoin is the NUPL chart that every serious Bitcoiner would have heard about. It provides news, markets, price charts and more. Price chart, trade volume, market cap, and more. Bitcoincharts is the world's leading provider for financial and technical data related to the Bitcoin network. Bitcoin Entity-adjusted LTH-NUPL chart A similar growth pattern can is spotted following the dip to $2 in 2011 followed by an impressive recovery to roughly $1,133 in 2014. Indicator Overview Long Term Holder NUPL (LTH-NUPL) is Net Unrealized Profit/Loss that takes into account only UTXOs with a lifespan of at least 155 days and serves as an indicator to assess the behaviour of long term investors. Despite this, Bitcoin continues to see ongoing growth and adoption, along with increased mainstream media coverage of the broader cryptocurrency market. We are at 0.75 right now. Instead, I believe that we are far away from Bitcoin's peak in 2021, even though the NUPL chart tells otherwise.