All Holders Potential Risk

The All Holders Potential Risk (AHPR) model employs the well-known "Net Unrealized Profit/Loss" (NUPL) metric to gauge the collective market sentiment and potential risk among all Bitcoin holders. NUPL provides a macroscopic view of the Bitcoin economy by calculating the difference between unrealized profit and unrealized loss among all Bitcoin holders, expressed as a percentage of the market capitalization. This distinction between unrealized gains and losses offers a unique insight into the psychological state of the market, reflecting the overall investor sentiment and potential risk at any given moment.