Financial Insights That Matter
This development comes as BTC tests the 1.618 Fibonacci extension level near $102,000 as support. A break below it could send Bitcoin to its 20-day EMA at around $80,000, with the 50-week EMA near $66,901 serving as the next downside target.
The relative strength index (RSI) hovers around 78.83, deep in overbought territory, further supporting the likelihood of a correction.
Bitcoin NUPL Signals Growing Profit-Taking Risk
Bitcoin’s Net Unrealized Profit/Loss (NUPL), which measures the ratio of total investor profit relative to market cap, shows that many investors are sitting on unrealized profits.
Notably, if NUPL trends higher toward 0.7—typically seen in euphoria phases—it could signal a market top is forming. Conversely, a drop below 0.5 would indicate growing investor uncertainty and the start of a broader correction.
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