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Below, I will explain the NUP indicator (Net Unrealized Profit) in a professional yet easy-to-understand way, assessing its reliability, usage, and what it means for the current market.

✅ Summary in one sentence:

NUP fell to 0.476 = the market is approaching a short-term bottom, short-selling energy is exhausted, and BTC is likely to enter a rebound range.
The short-term sentiment of ZEC / UNI will also be influenced.

This indicator is reliable but should be considered alongside price structure.


📌 1. What is NUP? (The simplest explanation)

NUP = the proportion of unrealized profits and losses (not sold) of all wallets on the blockchain.