Indicator Overview

The indicator calculates the percentage of all previous trading days where the Bitcoin price was lower than the current price. In simple terms, it measures the proportion of time that a HODLer (long-term holder) would have been profitable if they had purchased Bitcoin on a random day in the past.

A high percentage (green) means that almost all past buyers are currently in profit, while a low percentage (red/yellow) means many recent buyers are now "underwater" (in a loss).

How To Use

The Positive HODL Days percentage is an effective tool for identifying the risk/reward profile of the market based on investor sentiment. Readings above 90% signal a high-risk environment preceding major cycle tops, as high profitability often leads to increased selling pressure and profit-taking. Conversely, readings below 60% often signal low-risk accumulation zones and market bottoms, as conviction sellers have been flushed out after heavy losses.