BTC Net Unrealized Profit/Loss (NUPL): 0.334
How much profit the whole market is sitting on but has not cashed in, as a share of what bitcoin is worth today. Above zero the average owner is up; below zero the average owner is down. Every point shown is real up to the date on the badge above the chart.
Take what all bitcoin is worth today, subtract roughly what its owners paid for it, and express that gap as a share of today's value. What is left is the paper profit of everyone holding bitcoin, before anybody sells.
For example, 0.55 means about 55% of the entire value of bitcoin today is profit nobody has taken yet. A reading of −0.15 means the market as a whole is 15% underwater.
Zero is the break-even line where the average owner has made nothing. It measures how much unrealised profit the market is sitting on right now; it **does not** say when any of it gets taken.
In words: today's total value of all bitcoin, minus the total valued at the price each coin last moved at, divided by today's total value [(market cap − realized cap) ÷ market cap]. Computed in-house from our own Bitcoin node's realized cap — the value of every coin at the price it last moved at, which can only be obtained by reading the whole chain.
Every point on screen is real and complete up to the date on the badge **above** the chart. The outside feed that supplied them is switched off for good; **our own Bitcoin node** — a full copy of the blockchain that we run ourselves — is recounting this series from the very first block, and new points resume once that finishes.
Being a whole-market average, it hides the fact that recent buyers can be deep in loss while long-time holders are far in profit.
bitcoin-data.com (BGeometrics) supplied every point on this chart, and each one is real up to the snapshot date shown. Safu switched that feed off for good because its licence does not let us republish the data, so no newer days and no older days will arrive from it — no paid key and no purchased history are planned. Safu's own Bitcoin node is re-reading the blockchain from 2009 to rebuild this history. Feed no longer used.
History from bitcoin-data.com (no longer collected) · daily points, 2022+ · historical snapshot, no longer updating