RHODL
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Bitcoin Hits 18-Month High With 120% Yearly Gain, FOMO Still Quiet.
#Bitcoin-BTC has achieved a significant 120% year-to-date gain, hitting an 18-month high, but the widespread Fear of Missing Out (FOMO) typically seen in bull markets has not fully materialized. Analysis by Look into Bitcoin reveals that although there has been an increase in activity among smaller wallets, re-engagement of short-term traders within the network is still minimal.
Recent analysis shows that younger bitcoins are starting to move more frequently on the chain, indicating a shift in market dynamics. Look Into Bitcoin's Philip Swift used realized cap #hodl waves to show a subtle rise in lower timeframe waves; This shows that despite the price increase, the market is not experiencing the usual FOMO as newer coins are traded.
The data also sheds light on the current state of owners' profits. According to the Net Unrealized #Profit/Loss (NUPL) measure, most Bitcoin holders are making a profit. However, those invested around the late 2021 peak are closely watching a potential breakeven point of $39,000 for gains.
Other data from CryptQuant shows that only a small fraction of Unspent Transaction #Outputs (UTXOs), approximately 11.6%, are currently underwater. This shows that most investors are currently in profit. Despite this optimistic sign for many investors, caution should be exercised due to recent selling activity by large-scale investors, commonly known as whales. This behavior underscores the unpredictable nature of cryptocurrency markets and underscores the importance of conducting thorough research before making investment decisions.
The #RHODL Waves metric also points to a budding increase in coin circulation, which could indicate an early-stage bull market. However, it is worth noting that while most UTXO age groups are profitable, those held for 18 months to three years have yet to see profits.
$BTC $ETH $BNB
#Bitcoin-BTC has achieved a significant 120% year-to-date gain, hitting an 18-month high, but the widespread Fear of Missing Out (FOMO) typically seen in bull markets has not fully materialized. Analysis by Look into Bitcoin reveals that although there has been an increase in activity among smaller wallets, re-engagement of short-term traders within the network is still minimal.
Recent analysis shows that younger bitcoins are starting to move more frequently on the chain, indicating a shift in market dynamics. Look Into Bitcoin's Philip Swift used realized cap #hodl waves to show a subtle rise in lower timeframe waves; This shows that despite the price increase, the market is not experiencing the usual FOMO as newer coins are traded.
The data also sheds light on the current state of owners' profits. According to the Net Unrealized #Profit/Loss (NUPL) measure, most Bitcoin holders are making a profit. However, those invested around the late 2021 peak are closely watching a potential breakeven point of $39,000 for gains.
Other data from CryptQuant shows that only a small fraction of Unspent Transaction #Outputs (UTXOs), approximately 11.6%, are currently underwater. This shows that most investors are currently in profit. Despite this optimistic sign for many investors, caution should be exercised due to recent selling activity by large-scale investors, commonly known as whales. This behavior underscores the unpredictable nature of cryptocurrency markets and underscores the importance of conducting thorough research before making investment decisions.
The #RHODL Waves metric also points to a budding increase in coin circulation, which could indicate an early-stage bull market. However, it is worth noting that while most UTXO age groups are profitable, those held for 18 months to three years have yet to see profits.
$BTC $ETH $BNB
The RHODL ratio.
A significant indicator for identifying market peak timing is the #RHODL ratio. The RHODL ratio calculates the comparison between 1-week RHODL bands and 1-2 year RHODL bands. This ratio is based on the increase in the Bitcoin supply itself.
When the RHODL ratio is at its lowest point, it indicates potential market bottom, while if RHODL is in the "overheated" zone, it signals potential significant corrections as the market reaches its peak.
In history, markets reached peaks in 2011, 2014, and 2018 when RHODL was in the red zone. However, at the peak in 2021, there was a deviation from the RHODL ratio prediction.
Considering other cycles besides 2021, the $100k target for #Bitcoin seems insignificant. The sky appears to be an easily achievable limit!
A significant indicator for identifying market peak timing is the #RHODL ratio. The RHODL ratio calculates the comparison between 1-week RHODL bands and 1-2 year RHODL bands. This ratio is based on the increase in the Bitcoin supply itself.
When the RHODL ratio is at its lowest point, it indicates potential market bottom, while if RHODL is in the "overheated" zone, it signals potential significant corrections as the market reaches its peak.
In history, markets reached peaks in 2011, 2014, and 2018 when RHODL was in the red zone. However, at the peak in 2021, there was a deviation from the RHODL ratio prediction.
Considering other cycles besides 2021, the $100k target for #Bitcoin seems insignificant. The sky appears to be an easily achievable limit!
