HODL describes a long-term holding stance in crypto regardless of price. As a strategy it worked well for Bitcoin over the long run and terribly for most altcoins that went to zero.
It is the crypto version of diamond-hands and is often used to justify not having an exit plan.
Example: a holder who bought Bitcoin at $60,000 in 2021 and held through $16,000 in 2022 to new highs in 2024 hodled. A holder who did the same with a coin that fell 99% also hodled.
Related: diamond-hands, altcoin, halving, bagholder