Bitcoin Bull and Bear

NUPL (Unrealized Net Profit / Loss)

Represents investor sentiment. Show what you would gain or lose if you sold now.
The value 0.5 (50% of the profit) has historically served as support and from there the BTC price has recovered and the value 0.75 (75%) the BTC price has come down.


Indicates the relationship between the current inventory of an asset (stock) and the circulation / flow it has.
If the deflection is ≥ 1 it means that the asset is overvalued according to the S / F model. If the deflection is <1, the asset is undervalued.

MVRV Z-score

It shows the deviation from the market value and the price at which users bought their BTC.
Historically when the value is less than 0.1 the price of bitcoin is undervalued and an upward rebound occurs and when it is greater 7 the price of bitcoin is overvalued and a decline is going to occur
The function is calculated by subtracting the total market capitalization of Bitcoin from the market capitalization calculated with the price at which they bought and dividing by the standard deviation of the market capitalization.

Puell Multiple

It is calculated by dividing the daily issuance value of bitcoins in dollars by the 365-day moving average of the daily issuance value.
When this value falls below 0.5 there is a rebound in the price of BTC to the upside and value falls above 4, there is a drop in the price of BTC.

Reserve Risk

It is used to assess the long-term trust of holders in relation to the price of the native currency at a given time.
HODL Bank represents the opportunity cost of holding an asset.
When confidence is high and price is low, there is an attractive risk / reward to invest in (reserve risk is low).
When the confidence is low and the price is high, the risk / reward is not attractive at that time (the reserve risk is high).
A value less than 0.0013 has indicated in the past that the price of BTC was low and from there it has started to rise and it is greater than 0.02 has indicated that the price of BTC was high and that from there it will start to fall.

SOPR (Spent Production Profit Ratio)

Indicates if the owners who are selling today are losing or making money. It is calculated by dividing the value at which you sold today and the value at which you bought those bitcoins.
A value below 1 indicates that current sellers are losing and that is good support as holders would rather wait and not sell than lose money and a value above 1.03 indicates that current sellers are winning and causes resistance as forks sell to make money.

Mayer Multiple

The relationship between the current price and the 200-day moving average. Historically, when this value has exceeded 2.4 there has been a correction in the price and on numerous occasions when it has been less than 1 there has been a rise.

%d bloggers like this: