ATH Distance
Percentage distance of current price from all-time high.
ATH Distance: helps identify cycle phase. -80% accumulation, -50% healthy correction, -20% bull pullback, -5% euphoria, +0% ATH (top zone), +50% extreme euphoria. >+50% historically precedes 70-90% crashes. <-70% rare deep-accumulation zone (once per cycle).
In plain words
Percentage difference between current price and the all-time high (ATH). -80% is typically a bear bottom, historically an accumulation zone. -50% is a healthy bull correction. Above ATH (+20%, +50%) you're in euphoria. It is time for caution. Helps you locate where you are in the cycle.
Example
BTC Nov 2022: ATH 69k, price 15.5k = -77% = accumulation. Mar 2024: ATH 73k, price 73k = 0% = top zone. Nov 2024: ATH 73k, price 100k = +37% = euphoria. ETH 2025: ATH 4.9k (2021), price 3.5k = -29% = pre-ATH still.
Also known as: ATH distance, drawdown from ATH