CryptoQuant: Net unrealized profit and loss indicator shows that the market may usher in the third profit peak

PANews reported on August 14 that CryptoQuant analyst Yonsei_dent said that the NUPL (net unrealized profit and loss) indicator shows that when the value is higher than 0, most currencies are in a profitable state, which may trigger profit-taking.

Historically, market cycle tops are often accompanied by NUPL peaks. The market experienced a peak in 2017, two in 2021, and the current cycle may be forming a third peak. Unlike previous cycles, this round of market fluctuations has been more stable, primarily driven by institutional inflows into US ETFs and other funds. While the market is more stable, the magnitude of each rise is decreasing, suggesting a longer-lasting bull market, but a lower likelihood of a rapid surge in the short term.