Percentage of supply in profit, which can indicate the sentiment of ETH holders and short-term risk.
On July 18, this data reached 95%, meaning 95% of liquid ETH was in profit, indicating a short-term risk zone (in March, May, and December 24, after entering it, there was a pullback), suggesting that the short-term profit effect has peaked and there is a market demand for correction.
On June 22, at ETH 2230, the profit percentage was 53%, with nearly half of the chips at a loss, indicating lower risk at that time, suggesting that the risk appetite was high and could be leveraged for profit.
If ETH rises and then corrects in the future, the profit percentage may decrease (for example, if it rises to 4000 and then corrects to 3000, the profit percentage could drop below 50%), which would actually imply lower risk.
Of course, short-term risk ≠ end of trend.$ETH
