Bitcoin NUPL (RUPL) today
Last updated Loading source date ·
Also called net unrealised profit and loss · Weighted 5% of the LiftOffr Score
—
RUPL / NUPL · 0-100 normalised
Loading the latest available source data.
NUPL measures what share of the entire Bitcoin supply is sitting in unrealised profit. Above roughly 0.75 the market has historically been in euphoria; below zero the average coin is underwater, which has only happened in the deepest parts of past bear markets.
What it actually measures
Aggregate net unrealized profit/loss relative to market capitalization. This is not the percentage of coins or holders in profit.
How it is calculated
(market cap − realised cap) ÷ market cap, normalised 0-100.
No standalone write-up for RUPL / NUPL yet — the closest long-form read is the CBBI composite explainer, which covers how these normalised readings are built. For the wider framework, start with how to identify a Bitcoin cycle top.
What it read at every cycle top and bottom
This is the table that does not exist anywhere else. Every value is the RUPL / NUPL reading
on the day of that cycle turn, pulled from the same daily series the number above comes from.
| Cycle turn | Date | BTC close | RUPL / NUPL (0-100) |
|---|
| 2013 top | 2013-11-30 | $1,119 | 100 |
| 2017 top | 2017-12-17 | $19,250 | 100 |
| 2021 top | 2021-11-10 | $64,756 | 98 |
| 2025 top | 2025-10-06 | $124,824 | 96 |
| 2015 bottom | 2015-01-14 | $176 | 5 |
| 2018 bottom | 2018-12-15 | $3,185 | 0 |
| 2022 bottom | 2022-11-21 | $15,778 | 0 |
Readings are normalised 0-100. Bitcoin closes are the same day's price from the
source dataset. Cycle turn dates are daily-close highs and lows.
Average reading at a cycle top: 98.
Average at a cycle bottom: 2.
The weakest top signal it ever gave was the 2025 top at 96;
the highest it ever read at a bottom was the 2015 bottom at 5.
Where it has been wrong
It is a lagging read on sentiment, not a trigger. Supply can stay in profit through a 40% drawdown, and the sub-zero readings that mark real capitulation appear months after the fall starts — useful for confirmation, useless for timing an exit.
This section is on every indicator page here on purpose. An indicator sold as infallible is
being sold, not explained — and the gap between "it called three tops" and "it will call the
next one" is where people lose money.
The other eight
No single indicator survives contact with a real cycle. These are the other components of the
LiftOffr Score, live right now:
The reading tells you where. It doesn't tell you what to do.
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Questions
What is the RUPL / NUPL reading today?
The reading panel shows the latest available response and its source date. If the component is unavailable, it is labeled unavailable. Historical tables are dated examples.
What did the RUPL / NUPL read at the last Bitcoin top?
At the October 2025 top it read 96. Every cycle top and bottom since 2013 is in the table on this page, taken from the same daily series.
Has the RUPL / NUPL ever been wrong?
It is a lagging read on sentiment, not a trigger. Supply can stay in profit through a 40% drawdown, and the sub-zero readings that mark real capitulation appear months after the fall starts — useful for confirmation, useless for timing an exit.
Is the RUPL / NUPL enough on its own?
No. Every indicator on this site has a failure mode, which is why LiftOffr weights nine of them into one score rather than trusting any single one. The live composite is at liftoffr.com/cycle.
Read this first. Everything on this page is educational market information, not
financial advice, and not a recommendation to buy or sell anything. I am not a registered
investment adviser. Indicator readings are historical measurements, not predictions — every one
of them has been wrong before, which is why each page here has a section saying exactly how.
Bitcoin can fall further than you expect and stay there longer than you expect. Do your own
research and never invest money you cannot afford to lose.
© 2026 LiftOffr · Educational content only. Not financial advice.
Indicator data derived from the public CBBI dataset.
Every dated signal on this site is the LiftOffr Score computed over public historical price and on-chain data — a backtest, not a record of trades placed or calls published at the time. Past performance does not predict future results. Torin Christianson is not a registered investment adviser and nothing here is personalised to you. Full record, including every signal that went the wrong way, at
/receipts. LiftOffr LLC (Montana).
18+ only. Full income and performance disclaimer at
/disclaimer.