CoinVoice has learned that Glassnode posted on the X platform that the STH-NUPL indicator (measuring the ratio of unrealized gains and losses of new investors relative to the market value of short-term holders) shows that since 2025, new investors have been in a state of net unrealized losses. Analysis indicates that to bring this group back to a net profit state, the Bitcoin price needs to rise to over approximately $98,000. This data reflects a short-term market pressure situation, and the profitability recovery of short-term investors still depends on Bitcoin prices stabilizing and breaking through key resistance levels.