Bitcoin aNUPL Returns to Post Bear Market Levels as $89K Support Forms
The post Bitcoin aNUPL Returns to Post Bear Market Levels as $89K Support Forms appeared on BitcoinEthereumNews.com.
Bitcoin’s on chain profit stress has returned to levels seen near past bear market exits, while the four hour Bitcoin chart shows a fresh bottoming setup near $89,000. Together, the signals point to pressure on late buyers and a market testing whether it can stabilize after the latest drop. Bitcoin aNUPL returns to post bear market zone Bitcoin’s adjusted unrealized profit and loss indicator has fallen back to levels last seen near prior bear market exits, according to a CryptoQuant chart shared by analyst Darkfost on X. The chart tracks an adjusted Net Unrealized Profit Loss metric, or aNUPL, alongside BTC price from 2022 through early 2026. It shows unrealized profits and losses trending lower since the latest all time high, while price stays well above the 2022 lows. BTC: adjusted Net Unrealized Profit/Loss NUPL. Source: CryptoQuant / Darkfost Darkfost said the decline suggests many late arriving buyers now sit under heavier pressure than earlier holders. As a result, the post argues that unrealized profit conditions have weakened, even as Bitcoin trades in a higher range than earlier in the cycle. The analyst described the aNUPL as a smoothed version of NUPL that compares the realized capitalization of short term holders and long term holders against market capitalization. In the post, Darkfost said these levels often coincide with periods where holders either continue holding through drawdowns or sell into losses, which can influence whether the market shifts into a deeper downturn or stabilizes into a recovery phase. Bitcoin chart shows possible repeat bottom pattern Bitcoin’s four hour chart is showing a structure that resembles two earlier bottoming formations, according to a TradingView image shared by analyst Ted on X. The BTCUSDT four hour chart from Binance highlights two prior downside phases where price carved rounded base structures before strong upside…
Filed under: News - @ January 24, 2026 2:28 pm