CryptoQuant: Net unrealized profit and loss indicator shows that the market may face its third profit peak CryptoQuant analyst Yonsei_dent stated that the NUPL (Net Unrealized Profit and Loss) indicator shows that when the value is above 0, most currencies are in a profitable state, which may trigger profit selling. In history, the peak of market cycles is usually accompanied by a NUPL peak. There was one peak in the market in 2017, two in 2021, and the current cycle may be forming a third peak. Unlike before, this round of market volatility is more stable, mainly influenced by the inflow of funds from institutions such as US ETFs. Although the market is more stable, the magnitude of each increase is decreasing, which means that the bull market may last longer, but the possibility of a rapid surge in the short term is lower.