Bitcoin Cash NUPL
Bitcoin Cash
Net unrealised profit as a share of market cap: (market − realized) over market.
Why it matters
Positive is paper greed, negative is capitulation — and zones below −0.
How it is built
Aggregated per day directly from the chain's own ledger — measured, not estimated or interpolated.
What to watch
25 have coincided with cycle bottoms on the major chains.