Glassnode’s RHODL ratio has risen to 4.5, reaching the third-highest level since its inception. The metric measures the wealth share of long-term holders relative to short-term traders, with Bitcoin’s support level potentially strengthening following a six-month 50% correction. Short-term holders have largely exited, enabling long-term investors to regain dominance. Historical data shows similar ratios coincided with market bottoms in 2015 and 2022. Bitcoin has rebounded 25% from its February lows, with negative futures funding rates and a record-high S&P 500 suggesting resistance may be approaching.

According to CoinDesk, Glassnode’s RHODL ratio has risen to 4.5, the third-highest level in history. This metric measures market structure by comparing the wealth share of long-term holders (those holding coins for 6 months to 3 years) against short-term holders (those holding for 1 day to 3 months). The current reading suggests that, following a roughly 50% price correction over the past six months, short-term speculators have been largely washed out, and long-term holders have regained dominance—indicating market conditions more aligned with a cycle bottom than a peak. Historically, the RHODL ratio was higher only twice: in 2015 (ratio of 5) and 2022 (ratio of 7), both of which coincided with cycle lows, theoretically implying further downside potential for Bitcoin. However, analysts note that pushing the ratio even higher would require near-total exhaustion of short-term demand. Given that Bitcoin has already rebounded approximately 25% from its February low, negative perpetual funding rates, and a macro backdrop featuring a record-high S&P 500, the likelihood of such an extreme scenario remains relatively low.