Fidelity says BTC, ETH and SOL near capitulation zone, attractive for long-term buyers

Fidelity Digital Assets said in a report that Bitcoin, Ethereum and Solana have historically low NUPL, or net unrealized profit/loss, levels, with multiple on-chain indicators nearing a capitulation zone. According to the report, as of the end of the second quarter, Ethereum was trading around 30% below its average purchase price, with unrealized losses of about $87 billion. Solana was trading around 41% below its average purchase price, with unrealized losses of about $29 billion. Bitcoin alone remained in unrealized profit, trading around 10% above its average purchase price, with unrealized gains of about $108 billion. Fidelity added that current valuations may offer an attractive entry point for long-term investors.