Indicator Overview

The indicator measures the aggregate dollar value of profits currently held by all holders across the entire market (known as Total Unrealised Profit).

This metric is calculated as the total difference between the current Bitcoin price and the acquisition price of all coins that are currently in profit. It represents the total latent selling pressure from all investors. A rising value signals increasing market appreciation and overall wealth across the network.

How To Use

Total Unrealised Profit is a key measure of market saturation and macro-cycle risk. Record or near-record spikes indicate massive unrealised gains held across the entire network. Historically, these peaks represent major market tops because the extreme incentive to sell leads to large profit-realisation events that exceed new buying demand. Conversely, low, compressed readings suggest minimal aggregate profit. This low level reduces the risk of mass profit-taking, which is often constructive for price stability or signals that the market is either in a bear market or an accumulation phase where most coins are underwater or near breakeven.