Hash Ribbons Turns Green: A Historically Accurate Bitcoin Signal
The Hash Ribbons indicator — a trusted long-term metric that tracks miner capitulation and recovery — has just flashed its third “buy” signal in 2025, according to CryptoQuant. Historically, this indicator has accurately identified market bottoms, signaling ideal entry points for long-term investors.
The signal suggests that despite Bitcoin's recent all-time highs, current prices may still offer attractive long-term upside.
CryptoQuant analyst Darkfost noted that the market has largely overlooked the signal, calling it a “smart move” to buy the dip now.
How it works:
Hash Ribbons measure the 30-day and 60-day moving averages of Bitcoin’s network hashrate. When the shorter-term average crosses above the longer one after a miner capitulation phase, it indicates that mining recovery is underway — often preceding upward price movement.
Miner Behavior Supports Bullish Outlook
Bitcoin miner reserves are steady at ~1.8 million BTC as of June 4, suggesting reduced selling pressure after aggressive distribution in 2024.
The Bitcoin hashrate has reached new all-time highs, confirming strong network security and miner confidence.
Why It Matters:
Miners often act as early indicators of market strength or weakness. When they hold rather than sell, it hints at expectation of further price increases.
Profit-Taking Fades Amid Market Maturity
While some Bitcoin whales and long-term holders have locked in profits, Glassnode’s latest onchain report reveals that profit-taking euphoria is fading:
The 90-day average of realized profits shows that BTC holders are becoming more strategic and less emotional, signaling a maturing market with lower volatility.
“Profit-taking is now less intense than in past cycles,” Glassnode noted. “This trend shows more nuanced, less euphoric behavior as Bitcoin grows into a major macro asset.”
BTC Market Outlook: Key Takeaways
Signal/Event | Implication |
|---|---|
Hash Ribbons Buy Signal | Indicates strong long-term accumulation opportunity |
Miner Reserves Steady | Reduced sell pressure supports price stability |
Record Hashrate | Signals confidence and resilience in the Bitcoin network |
Diminished Profit-Taking | Suggests market maturity and measured optimism |
With BTC trading near $104,768, all eyes are on macro factors — including tariff uncertainty and potential Fed rate cuts — to determine whether this Hash Ribbons signal precedes another major leg up.
Next Key Level: Watch for sustained consolidation above $105K to confirm bullish continuation, according to Cointelegraph.
