Bitcoin's Net Unrealized Profit/Loss (NUPL) is nearing a critical point, with its 100-day Exponential Moving Average (EMA) approaching the zero axis, according to analyst thechessONCHAIN on CryptoQuant. Currently, Bitcoin's NUPL stands at 0.158, with the 100-day EMA at 0.215 and the 30-day EMA at 0.155. The recent crossover on June 2, where the 30-day EMA fell below the 100-day EMA, suggests a weakening market momentum. However, both averages remain above the zero line, indicating that the market is still in a net profit position. This movement could serve as a key indicator for identifying the bottom of the current cycle.