Bitcoin holders stay profitable despite volatile week
Since the onset of March, there has been notable volatility in Bitcoin's price as reflected by Net Unrealized Profit/Loss (NUPL) and Market Value to Realized Value (MVRV) metrics, showcasing the swift shifts in investor sentiment. Recent market trends indicate that despite the fluctuating prices, investors have largely maintained a positive outlook with the market being in a state of overall profit. NUPL and MVRV are crucial on-chain indicators that provide insights into the sentiment and profitability of the Bitcoin market. NUPL assesses the net unrealized profit or loss in the network in relation to the market cap, with values above 0 indicating a profitable state for investors. On the other hand, MVRV compares Bitcoin's market cap to its realized cap, which represents the total cost basis of coins. An MVRV exceeding 1 (or NUPL above 0) suggests that the average holder is experiencing profits, while values below 1 suggest holders are generally at a loss. A high MVRV (e.g.,>2.4) indicates significant unrealized profits, often observed during bullish peaks, whereas a low MVRV...
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