Bitcoin's Relative Unrealized Loss (RUL) has remained below 5% since November 2023, indicating sustained growth. This metric, which measures the dollar value of coins held at a loss relative to the total market capitalization, is viewed by analysts as an indicator of investor confidence and reduced panic selling.
A hallmark of bull markets is a low Relative Unrealized Loss, typically <5%. This metric tracks the USD loss of all coins currently underwater, normalized by market cap.
— glassnode (@glassnode) October 24, 2025
The current bull market has held this structure since November 2023, making it more persistent than the… pic.twitter.com/9Gk7v1BxAq
Since November 2023, the RUL metric has consistently stayed at these low levels, signifying fewer unrealized losses during market fluctuations. This sustained trend suggests that market participants are holding onto their assets, anticipating higher prices in the upcoming months.
Technical Indicators Point to Short-Term Recovery
The BTC/USD 4-hour chart exhibits improving signals of recovery, despite maintaining efficiency. Bitcoin has seen a 1% increase in the past 24 hours and is currently trading above $111,000. Although the price previously encountered resistance from the 50-day Exponential Moving Average (EMA) at $113,329, it managed to regain strength after testing support near $106,453.
The Relative Strength Index (RSI) is currently at 58, indicating growing buying pressure. Analysts note that the RSI needs to remain above 50 to confirm a sustained rally. Furthermore, the Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, suggesting a potential near-term upward movement.
Bitcoin Price Outlook Toward $115k Resistance
If the current bullish momentum persists, Bitcoin could target the next resistance levels at $113,329 and potentially $115,137. A sustained closing price above these levels would likely extend the ongoing rally.
Conversely, a daily close below $106,453 could lead to a retest of the swing low of $102,000 recorded on October 10. Traders are closely observing whether this upward momentum can be maintained, with Bitcoin's upward bias supported by the low RUL metric.