BITCOIN NUPL JUST FLASHED A MAJOR TREND REVERSAL

After staying below its 365D SMA for 317 days, Bitcoin NUPL has finally crossed back above it.
➡️ NUPL: 0.32
➡️ SMA365: 0.31

This is the first bullish crossover since Oct. 10, 2025.
Historically, this matters because NUPL tracks the market’s unrealized profit/loss regime.

If $BTC sustains above this zone, the recovery could have significantly more room to run.

The trend may be changing.