Bitcoin's Price Regains Long-Term Trend as NUPL Flips Bullish

Bitcoin's price has regained a long-term trend level after 317 days, according to CryptoRank. This development comes as the cryptocurrency's Net Unrealized Profit and Loss (NUPL) measure flipped bullish after crossing its 365-day moving average.

Liquidity remains concentrated around $73,000-$75,000 and $78,000-$80,000. U.S. spot Bitcoin ETFs have recorded four consecutive sessions of inflows, with BlackRock's IBIT accounting for $239.3 million in net inflows on August 21.

CryptoQuant contributor Burak Kesmeci noted that the NUPL crossover is a trend-reversal signal rather than a standalone price target. He emphasized that sustained readings above the yearly average could support continued upward momentum, potentially leading to a move towards $90,000.