PANews August 14 news, CryptoQuant analyst Yonseident stated that the NUPL (Net Unrealized PNL) indicator shows that when the value is above 0, most coins are in a profitable state, which may trigger profit selling.
Historically, the peaks of market cycles are often accompanied by NUPL peaks. In 2017, there was one peak in the market, and in 2021, there were two, while the current cycle may be forming a third peak. Unlike before, this round of market fluctuations is smoother, mainly influenced by institutional capital inflows such as the US ETF. Although the market is more stable, the magnitude of each increase is decreasing, which means that the bull market may last longer, but the likelihood of a rapid surge in the short term is lower.
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