The RHODL ratio from on-chain data platform Glassnode has surged to 4.5, marking its third-highest level historically. This rise suggests that after a roughly 50% price correction, short-term speculative funds have been significantly cleared out, allowing long-term holders to regain dominance. Historically, such high levels of the RHODL ratio have been observed during market cycle bottoms, such as in 2015 and 2022, indicating the current trend is more aligned with a market recovery phase rather than a peak.