Bitcoin Realized HODL Ratio Indicator Shows Declining Momentum
An on-chain analyst indicates that the Realized HODL (RHODL) Ratio for Bitcoin is declining, which may signal negative trends for the cryptocurrency.
Key Points
- The RHODL Ratio measures the ratio between different RHODL wave bands, reflecting the age of held Bitcoin.
- Recent trends show a decrease in the RHODL Ratio, indicating reduced new demand for Bitcoin.
- The indicator's decline follows a previous surge during last year's price rally above $100,000.
- Historically, high levels in the 1-week wave band have coincided with bull market tops.
- The momentum oscillator also shows a dip into a range associated with potential trend transitions.
- Bitcoin's price recently retested $98,000 but is currently at $97,000.
