Data: Bitcoin NUPL 100-day moving average approaches the zero line, which may become a key indicator for determining the bottom of this cycle

According to the analyst thechessONCHAIN on CryptoQuant, Bitcoin's NUPL (Net Unrealized Profit/Loss) is currently 0.158, with its 100-day exponential moving average at 0.215 and the 30-day exponential moving average at 0.155.

On June 2, the 30-day moving average has crossed below the 100-day moving average, indicating a weakening market momentum, but both are currently still above the zero axis.