The analyst on the chain indicated that the realized indicator of the Hodl (Rhodl) coefficient is on the way down, a sign that may not be positive for bitcoins.
Bitcoin Rhodl has been losing her momentum lately
In fresh post On X, the Checkmate analyst discussed the latest trend in Rhodl Bitcoin. “The realized Hodl (Rhodl)” factor “is a measure for a chain that calculates the ratio between any two Rodl wave bands.
Hodl wave teams follow the percentage of total BTC supply, which has recently been transferred in a given age range. Rhodl wave bands are their modified form, adding an additional weighing factor: realized value.
Simply put, the implemented value is the price of the spot, after which the given cryptocurrency token was recently carried out on blockchain. This means that this is the current base of the coin.
Because the Rhodl wave band multiplied this record with the amount of supply present in a given belt, he tells us about the sum of the basic coin bases in this band. When the value of the indicator increases for any specific band, it means that the amount of capital invested in coins falling in the age range increases.
In the context of the current topic, the RHODL ratio from 1 week and from 1 to 2 years matters. Below is a chart made available by an analyst, which shows the trend in this RHODL relationship in Bitcoin history.
As shown in the graph above, the Bitcoin Rhodl factor for these bands of waves increased to a high level during a rally over $ 100,000, which took place last year. Such a trend implies a 1 -week wave band, which corresponds to the fresh capital entering the sector, has gained a vast one in relation to the veteran 1 year to 2 years.
The map shows that the extreme rotation of capital to the 1 -week Wave team historically coincided with sheets to the cryptocurrency price.
Since last year’s summit, the record has been on the road, which suggests that the fresh demand for assets slows down. It is also observable in the oscyor of the momentum of the indicator attached by the analyst at the bottom, which has just immersed in the zone, which in the past played the role of a transitional region between stubborn and bears.
Considering the historical pattern, this development in the ratio of Rhodl is certainly not the best for bitcoins. Now it will turn out whether the record will continue the decline in the coming days, potentially signaling the passage from the bull market, or whether it will bounce back.
BTC price
Today, Bitcoin has become according to USD 98,000, but it seems that the coin ended with rejection, because its price dropped to USD 97,000.
