Time In Risk Bands

Each bar counts the days spent in one 0.1-wide risk band across the full history. The shape tells you what "normal" looks like: most of Bitcoin's life is spent mid-band, and the extreme bands are rare by construction.

Practical use: it calibrates patience. If the sub-0.1 band holds only a small fraction of all days, then deep-value windows are short — when the metric gets there, hesitation has historically been expensive. The same logic applies in reverse for the 0.9+ band.