Bitcoin's long-term holder (LTH) profitability has plummeted to 3%, according to on-chain analyst MorenoDV_ on CryptoQuant. The adjusted Net Unrealized Profit/Loss (NUPL) for LTHs has sharply declined from 58% since October 6, 2025, over a span of 142 days. Despite this significant drop, the market bottom signal has not been activated as LTH-NUPL remains slightly above zero, avoiding the full liquidation zone typically associated with market bottoms. The analyst highlights that historical market bottoms occur when LTHs transition into unrealized losses. The current market conditions suggest a late-cycle pressure phase rather than a full liquidation. Traders are advised to watch for LTH-NUPL to fall below zero, along with sustained price and volatility compression, which historically indicate asymmetric entry opportunities.