Bitcoin’s entity-adjusted NUPL signals heightened market uncertainty below $60k

Onchain Highlights DEFINITION: Entity-adjusted NUPL is an improved variant of Net Unrealized Profit/Loss (NUPL) that discards transactions between addresses of the same entity (“in-house” transactions). It only accounts for real economic activity and provides an improved market signal compared to its raw UTXO-based counterpart. Bitcoin’s Entity-Adjusted NUPL has been in a downtrend since... source: https://cryptoslate.com/insights/bitcoins-entity-adjusted-nupl-signals-heightened-market-uncertainty-below-60k/