According to on-chain analytics firm Glassnode Disclosure data, from a broader market perspective, unrealized losses remain at historically low levels. Total unrealized losses accounted for 2.9% of Bitcoin's market capitalization this week, at a historically low level. This indicator shows that investors as a whole are still relatively profitable even in the face of continued price declines. If you calculate the ratio of total unrealized profits to unrealized losses, you can see that profits are still six times larger than losses. About 20% of the trading days this ratio is higher than the current value, highlighting the unexpectedly solid financial situation of the average investor. However, after the all-time high of $73,000, realized profits fell sharply, indicating that most coins spent since then are gradually locking in smaller and smaller profits, with an increase in loss events, and gradually reaching higher levels as the market downtrend progresses. The current seller risk ratio has fallen to a lower range, indicating that most coins traded on the chain are close to their original purchase price, indicating that profit and loss activities are gradually saturated within the current price range.