Bitcoin 'sell the rally' indicator flashes again as BTC price breaks below $45K
An on-chain indicator, notorious for spotting fake bullish breakouts during downside corrections, flashes again. A Bitcoin (BTC) on-chain indicator that spotted dead cat bounces during the yesteryear bearish market corrections has flashed again in August 2021.Dubbed as "Bitcoin: Short Term Holder NUPL," the indicator takes into account the unspent transaction output, or UTXO, of BTC transactions not more than 155 days old. In doing so, it attempts to determine whether or not an investor is profitable within 155 days of purchasing and holding Bitcoin.Therefore, if the NUPL, which stands for....
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