Analysis: Bitcoin Long-Term Holders Transfer Holdings to New Buyers, RHODL Indicator Pullback Suggests Market May Be Brewing a Trend Reversal
On-chain data shows that Bitcoin long-term holders are gradually transferring holdings to a new round of buyers. Glassnode's RHODL Ratio began to decline after reaching a historical second-high of 6.5 in early July and has now fallen below 6, but the Bitcoin price remains trading sideways around the $60,000 range, with no significant panic selling observed.
