BlockBeats News, May 6th, CryptoQuant analyst Axel Adler Jr. posted on social media, stating, "Bitcoin short-term holders (holding period of 1 to 3 months) represent the most aggressive market participants, including professional speculators trading Bitcoin through ETF brokers. In the current bull market cycle, their Net Unrealized Profit/Loss (NUPL) usually rises to above the 40% range, after which they start taking profits, creating selling pressure in the spot market."
Currently, this group's NUPL is at 8%, and its 30-day Simple Moving Average (SMA) remains negative, staying at -2%. Before NUPL breaks above 40%, the selling pressure from this group will remain at a lower level, which is seen as a bullish signal."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.