CryptoQuant Analyst thechessONCHAIN: Bitcoin NUPL Signals Weakening Momentum After June 2 Crossover

Bitcoin’s net unrealized profit/loss (NUPL) is at 0.158, with its 100-day exponential moving average at 0.215 and its 30-day exponential moving average at 0.155, according to CryptoQuant analyst thechessONCHAIN. According to ChainCatcher, the analyst said the 30-day average crossed below the 100-day average on June 2, indicating weakening market momentum. Despite the crossover, both moving averages remain above the zero line, suggesting the NUPL metric is still in positive territory.