Over the past year, this BTC on-chain indicator has hit the 1.0 major support level 6 times

Currently, this indicator is approaching the 1.0 major support level again

The indicator in the figure is the ratio of BTC realized profit (Realized Profit) to BTC realized loss (Realized Loss) (24-hour EMA). When the indicator > 1, it is marked with a green line; when the indicator <span it is marked with a red line; when the indicator = 1, it is often a major support level in the bull market.

Note 1: Realized Profit refers to the total US dollar profit of all BTC that moves on the chain in a floating profit state within a period of time; Realized Loss refers to the total US dollar loss of all BTC that moves on the chain in a floating loss state within a period of time.

Note 2: If the price of BTC at the time of the last movement on the chain is less than the current price, the BTC is considered to be in a floating profit state; if the price of BTC at the time of the last movement on the chain is greater than the current price, the BTC is considered to be in a floating loss state.