An on-chain analyst has pointed out that the Realized HODL (RHODL) Ratio indicator is on the way down, a sign that may not be positive for Bitcoin. Bitcoin RHODL Has Been Losing Momentum Recently In a new post on X, analyst Checkmate has discussed about the latest trend in the RHODL Ratio of Bitcoin. The “Realized HODL (RHODL) Ratio” is an on-chain metric that calculates the ratio between any two given RHODL wave bands. HODL wave bands keep track of the percentage of the total BTC supply that was last moved inside a given age range. The RHODL wave bands are a modified form of these, adding an additional weighting factor: the Realized Value. Related Reading: Ethereum Fees Back To Lowest Since August: Is This Bullish? Put simply, the Realized Value is the spot price at which a given token of the cryptocurrency was last transacted on the blockchain. That is, it’s the coin’s current cost basis. As the RHODL wave band multiplies this metric with the amount of supply present within a given ba ..
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