#BTC NUPL indicator 2017 - 2023, you can clearly see the relationship between NUPL and the trend of $BTC .

Red represents "panic" and is a good time to buy.

Blue represents "greed" and is the time to sell.

It is currently in an optimistic zone and will continue to track.

Before the bull market begins, there is a high probability that it will enter the "red" zone again, so keep some bullets waiting for opportunities.