Unrealised NUPL AVIV NUPL AVIV
Bitcoin
Cointime NUPL (NUPL-AVIV) is the net unrealized profit/loss computed within the cointime (active-supply) framework.
Why it matters
It measures aggregate paper profit while filtering out lost and vaulted coins for a cleaner sentiment read.
How it is built
Active market value minus active invested value is divided by active market value, using cointime weighting.
What to watch
Like NUPL, it maps euphoria-to-capitulation zones, but with the distortions of dormant supply removed.