# NRPL

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📊 Bitcoin NRPL is flashing a signal — here's what the data says
Net Realized Profit & Loss is one of the most reliable on-chain metrics for reading market sentiment. Here's what the chart tells us right now:
🔴 2023 — Deep negative NRPL. Pure capitulation. Weak hands sold at a loss. That was the bottom.
🔴 Early 2024 — NRPL spiked to ~$9B. Massive profit-taking as BTC broke ATH. Classic distribution.
⚡ Mid 2024 — Brief dip back negative. Every time this happened historically, it marked a re-entry zone.
🔴 Early 2025 — BTC hits ~$108K. NRPL explodes again. Everyone who held is cashing out.
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BTC-2.27%
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