Bitcoin Faces Mounting Unrealized Losses as NUPL Ratio Hits October 2023 Levels
Bitcoin’s recent price correction has led to a surge in unrealized losses, with key metrics signaling potential market stress. As of April 2025, analysts are closely watching these developments for signs of either recovery or further downside.
Bitcoin Unrealized Losses Hit Highest Level Since October 2023
Unrealized losses for Bitcoin (BTC) reached their highest level since October 2023, with the net unrealized loss (NUP) ratio spiking to 0.0578 on April 8. This followed a sharp drop in Bitcoin’s price to $76,000 from the mid-$80,000 range it had been trading in for several weeks. The net unrealized profit/loss ratio also dropped to its lowest point since, hitting 0.4253. NUPL and NUL are valuable tools for assessing the behavioral state of Bitcoin holders, derived from the difference between Bitcoin’s current market price and the realized price — the average price at which all coins were last moved on-chain.
Ross Ulbricht to Speak at Bitcoin Conference in First Public Appearance Since Trump Pardon
Ross Ulbricht, the founder of Silk Road, will make his first public appearance since his release from prison earlier this year. He will be speaking at the Bitcoin Conference in Las Vegas from May 27 to 29. The news follows a presidential pardon by Donald Trump in January that ended his incarceration. Trump granted Ulbricht a “full and unconditional pardon,” citing support from the Libertarian movement and calling the sentence “ridiculous.” From 2011 to 2013, Ulbricht operated the Silk Road marketplace under the alias “Dread Pirate Roberts,” which offered illicit drugs purchased using Bitcoin.
Bitcoin (BTC) Whale Demand Accelerates After Tariff Wars Announcement
2024 hours have passed since Trump announced tariff wars, and Bitcoin (BTC) has bounced back above $80,000. Recent data and CryptoQuant analysts’ findings reveal that whale activity, particularly from investors holding between 1,000 BTC and 10,000 BTC, has been rapidly rising in the last 30 days. This increase in whale demand follows heavy discounts in Bitcoin over the last 3 months. However, institutional demand remains on the sidelines, likely waiting for better market conditions.
Bitcoin Climbs Amid Tariff News, But Technical Indicators Suggest Caution
Bitcoin (BTC) has seen a 7.5% uptick following the announcement of a tariff pause by former President Trump. However, technical indicators signal caution as the latest data indicates a bullish breakout above the Ichimoku Cloud’s red Kumo, but reveals a potential lack of robust momentum. According to COINOTAG, while the initial surge appears promising, indicators suggest a consolidation phase may follow. Read more about the current market outlook and mixed momentum of Bitcoin following the tariff news.
Crypto Whales Are on a Buying Frenzy – Is a MASSIVE Bitcoin Price Surge Coming?
Large BTC holders are significantly increasing their BTC balance, suggesting renewed buying interest. Bitcoin’s trading range between $79,000 and $83,000, supported by institutional endorsements, signals a period of stabilization. The steady whale accumulation, coupled with institutional confidence, could set the stage for a significant upward price movement. Data from leading analytics firm, CryptoQuant, showed a strong increase in the number of BTC being bought by large whales (those with 1,000 to 10,000 BTC holdings). Their actions have led to a bullish sentiment around the cryptocurrency, setting it up for an imminent growth.
