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Search results for NUPL

Crypto

XRP rally could stall at $2.22 sell wall

XRP is trying to regain the $1 level, but an overhang of supply from mid-term holders who bought around $2 could act as strong resistance, an analysis said. On-chain data showed the average realised price for investors who bought 6 to 12 months ago was about $2.22, well above the current price. Derivatives funding rates were mixed by exchange, while futures volume continued to dwarf spot trading. Key near-term levels were cited at $1.11 and $1.36.

Crypto

Bitcoin may not have hit a true bottom, on-chain metrics suggest further decline

On-chain analysis suggests Bitcoin may not yet have confirmed a bear-market bottom. CryptoQuant said its NUPL indicator, which tracks supply profitability, still has room to fall when compared with past bottom signals. Analyst TheChesOnChain said the NUPL 100-day exponential moving average has historically dropped below zero at cycle lows. With Bitcoin just above $63,000, the matching NUPL level is 0.215, implying more downside if past patterns repeat.

Crypto

Bitcoin miner profitability indicator plunges, resembling past bottom zone

A composite indicator tracking stress on bitcoin miners’ revenue fell to a new low in 2026 and entered an undervalued zone. Onchain analyst Gaa Im said the measure has dropped to levels that in the past coincided with cyclical turning points in bitcoin’s price. He cited 2015, 2018, 2020, 2022 and 2024 as similar episodes. The indicator’s deterioration also aligns with bitcoin’s decline since its October 2025 all-time high.