banks with substantial #unrealized securities losses and with non-retail and uninsured U.S. #depositors may still be more sensitive to depositor competition or ultimate flight, with adverse effects on funding, liquidity, earnings, and capital.”

The NUPL metric shows the #difference between unrealized Bitcoin profit and #unrealized loss within the BTC supply.

Since mid-January, the weekly #average of NUPL has shifted from a state of net #unrealized loss to a positive condition.

The NUPL metric shows the #difference between unrealized Bitcoin profit and #unrealized loss within the BTC supply.

Since mid-January, the weekly #average of NUPL has shifted from a state of net #unrealized loss to a positive condition.

Since mid-January, the weekly #average of NUPL has shifted from a state of net #unrealized loss to a positive condition.

The NUPL metric shows the #difference between unrealized Bitcoin profit and #unrealized loss within the BTC supply.

This indicates that the average Bitcoin holder is now holding a net #unrealized profit of magnitude of approximately 15% of the market cap. This pattern resembles a market structure equivalent to #transition phases in previous bear markets.”

This indicates that the average Bitcoin holder is now holding a net #unrealized profit of magnitude of approximately 15% of the market cap. This pattern resembles a #market structure equivalent to transition phases in previous bear markets.”