TechFlow news, July 14, according to CoinDesk, 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 rising to the second highest historical level of 6.5 in early July and has currently fallen below 6, but the Bitcoin price remains consolidating around the $60,000 range without significant panic selling.
The report states that this indicates the current situation is more like a slow turnover of holdings rather than a sharp sell-off. The market is also watching expectations that the Federal Reserve may cumulatively hike rates by 50 basis points over the next six months; if policy tightens further, it could become a potential catalyst driving Bitcoin to drop further.
