Bitcoin Holders Remain Calm: Glassnode’s Crucial NUPL Insight

Key Points

1. Bitcoin (BTC) recently surged past $118,000, marking a new all-time high (ATH).

2. Glassnode's Holder Net Unrealized Profit and Loss (NUPL) metric remains at 0.69, below the 'euphoria zone', indicating long-term holders are not engaging in widespread profit-taking.

3. The Long-Term Holder (LTH) NUPL has spent only about 30 days above the 0.75 threshold in this cycle, compared to 228 days in the previous bull cycle.

4. The behavior of long-term holders suggests a more mature market, with potential for continued price stability and growth.

5. The absence of widespread LTH euphoria could indicate a different market dynamic compared to previous cycles, where retail FOMO led to rapid price increases and sharp corrections.