Since the introduction of the Spot Bitcoin ETF trading in the U.S.

On January 11th, there's been a noticeable increase in spot Bitcoin trading volume, which has had a positive effect on price momentum. Glassnode uses the Net Unrealized Profit and Loss (NUPL) metric to understand how ETFs are impacting investor behavior.

NUPL measures the net profit (or loss) on market holdings, adjusted by market capitalization. According to Glassnode's findings, NUPL has consistently been above 0.5 for the past seven months, suggesting that the market is currently experiencing the typical excitement of a bullish phase.#BETF #eth‬ #altcoins #BlackRock #MicroStrategy $BETF