Axel Adler Jr.: Bitcoin holders in 0-3 months are approaching breakeven, while holders in 3-6 months are experiencing significant losses

CryptoQuant analyst Axel Adler Jr. pointed out that the NUPL of Bitcoin 0-3 month holders narrowed from -0.13 in June to -0.02, approaching breakeven; The NUPL of 3-6 month holders is -0.14, and the realized market value drawdown has deepened from -53% to -69.6%. The 0-3 month group has realized a market value drawdown of approximately -64%. Axel Adler Jr. stated that holders in 0-3 months are close to recouping their costs, but holders in 3-6 months are still at a loss. Market improvement requires holders in 3-6 months to return to NUPL above zero and achieve a halt to market value drawdown.