Entity-adjusted Bitcoin metrics provide a refined view of market sentiment by filtering out non-economic transactions. This is especially important when analyzing net unrealized profit and loss, such as the LTH-NUPL and STH-NUPL. Non-entity-adjusted metrics can show skewed, unclear, or incorrect data because they include all transactions, even internal transfers within the same entity. These “in-house” […]
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NUPL ratio shows why long-term holders are better market top indicators