Percent Supply in Profit

Percent Supply in Profit is used to track the percentage of BTC that is currently in circulation in a profitable state, which is defined as the price at the last move was lower than the current price.

Set the SMA parameter to 0 and observe:

When the indicator value falls near the lowest point of the previous cycle, it indicates that the pessimism of the market has approached the lowest price point in the historical cycle, which often corresponds to the bottom range of the market.

Set the SMA parameter to 50 and observe:

When the indicator value exceeds 95%, and the indicator trend and the price trend deviate, it means that the high-priced chips have fully changed hands, which often corresponds to the top range of the market.