BTC, ETH Price Set For Next Bullish Wave?: On-Chain Data Shows

In what could be a sign of the crypto market reaching the local bottom for Bitcoin (BTC) and Ethereum (ETH), the Net Unrealized Profit or Loss (NUPL) metric for the top two cryptocurrencies is showing a historical trend. In terms of trader sentiment, the euphoria around the spot Bitcoin ETF filings is starting to fade out, reflecting the same in the asset prices.