NUPL - Net Unrealized Profit-Loss BTC Tops/Bottoms [Logue]

29 Feb 2024

Net Unrealized Profit Loss (NUPL) - The NUPL measures the profit state of the bitcoin network to determine if past transfers of BTC are currently in an unrealized profit or loss state.
Values above zero indicate that the network is in overall profit, while values below zero indicate the network is in overall loss. Highly positive NUPL values indicate overvaluation of the BTC network and relatively negative NUPL values indicate an undervaluation of the BTC network.

For tops: The default setting for tops is based on decreasing "strength" of BTC tops. A decreasing linear function (trigger = slope * time + intercept) was fit to past cycle tops for this indicator and is used as the default to signal macro tops. The user can change the slope and intercept of the line by changing the slope and/or intercept factor. The user also has the option to indicate tops based on a horizontal line via a settings selection. This horizontal line default value is 73. This indicator is triggered for a top when the NUPL is above the trigger value.

For bottoms: Bottoms are displayed based on a horizontal line with a default setting of -13. The indicator is triggered for a bottom when the NUPL is below the bottom trigger value.

4 Mac 2024

Nota Keluaran

Updated the slope factor and intercept factor to be percentages of 100. This makes it much easier to modify the sloped line from the settings since changes can be made in whole numbers instead of decimals.

3 Jan

Nota Keluaran

Minor fix.

3 Jan

Nota Keluaran

Minor fix and updated chart.