In a notable market update dated November 20th, CryptoQuant’s CEO Ki Young Ju highlighted that the ETH/BTC NUPL (Net Unrealized Profit/Loss) has reached a **four-year low**. This decline points to Ethereum’s struggle relative to Bitcoin, indicating that a substantial portion of ETH investors are currently facing **unrealized losses**. This trend mirrors the sentiments observed during the downturn of early 2020 when market conditions prompted similar investor cautions. The **NUPL metric** serves as a crucial indicator, shedding light on the broader market sentiment by aggregating the unrealized **profit or loss** of cryptocurrency holders. It effectively captures the net worth of all assets held in the market, reflecting the overall **financial health** of investors and their decisions. As the crypto landscape continues to evolve, monitoring such indicators remains essential for identifying potential entry points and strategies for long-term holders.
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