Bitcoin RHODL Ratio Hits 4.5, Hints at Cycle Low But Needs Confirmation

Glassnode’s RHODL ratio has surged to 4.5—its third-highest reading ever—suggesting long-term holders now dominate after Bitcoin’s 50% six-month plunge. The cryptocurrency has clawed back 25% from February lows amid negative perpetual funding and S&P 500 record highs. Initial coverage framed this as a bullish bottom signal, but the latest analysis cautions it’s not definitive, calling for watches on investor exits and macro flows to confirm a market trough.