ATH (All-Time High)
What it shows
Distance from ATH shows how far the current price is from the all-time high; it is a measure of how far the asset is "discounted" from its record.
How to read it
The distance alone is risk context, not a signal: being deep below ATH has historically meant lower cyclical risk, while breaking new ATHs signifies a euphoria phase. Combine with MVRV and NUPL.
Parameters
- Distance to ATH (%)
- A large distance = the asset deep below its peak; a small one = near the record, potentially heated.
- Positive reading: Deep below ATH: historically a value zone and lower cyclical risk.
- Negative reading: At or above the previous ATH: historically a euphoria zone with elevated risk.
- Neutral reading: A moderate distance: the market mid-recovery, without extremes.
Example
Price is -49.4% from ATH. Historically a deep discount to the peak has been an accumulation zone, though it alone does not guarantee a bottom. Right near ATH (e.g. -5%) overheating risk historically rises; -20% to -40% is often a neutral mid-cycle phase.