Despite the current retreat in Bitcoin prices, an on-chain metric called the RHODL indicator is showing bullish signals. The indicator, created by Philip Swift in 2020, uses a ratio of Realized Value HODL Waves and is at a similar position as it was at the beginning of the last two major Bitcoin bull markets.
The RHODL indicator measures HODL waves at different age bands of UTXOs and is weighted by the Realized Value of Bitcoins within each band. While Bitcoin market sentiment is currently neutral, the RHODL indicator suggests a new bull market may be forming.
All Comments