Bitcoin is once again sparking investor enthusiasm, as one of the most reputable technical indicators — the Hash Ribbon — has generated a buy signal. For the first time since July 2024, this key indicator, regarded as one of the most accurate predictors of long-term Bitcoin trends, signals a new phase of a bull market. What does this rare signal mean, and how might it affect BTC prices in the coming months?
The Hash Ribbon is an indicator developed by the investment firm Capriole Investments, which analyzes the situation in the Bitcoin market through changes in the BTC network's hash rate. It is based on two moving averages of the hash rate: a 30-day and a 60-day.
When the 30-day average falls below the 60-day average, it indicates miner capitulation — a period when miners sell their BTC due to low profitability. The reverse situation, where the 30-day average crosses above the 60-day average, indicates the end of capitulation and generates a buy signal.
In the past, the Hash Ribbon has accurately predicted changes in market trends multiple times. Examples? The buy signal in August 2023 preceded a rise in BTC price, and the signal from July 2024 also heralded an upcoming bull market.
On March 24, 2025, the Hash Ribbon again indicated a buy signal, confirming the end of the latest miner capitulation. Investors see this as a clear signal to accumulate BTC, which may herald a return to increases, provided Wall Street allows it.
Renowned cryptocurrency analyst Titan of Crypto described this signal as 'macro bullish', emphasizing that historically, the Hash Ribbon has increased the likelihood of long-term gains. Another investor, Robert Mercer, noted that the Hash Ribbon is one of the most accurate mid-term indicators, which reinforces optimism in the market.
After three months of disappointing volatility, many investors are anticipating a return of Bitcoin above $100,000. Previous Hash Ribbon signals have heralded strong increases, though not always immediate ones. In August 2023 and July 2024, Bitcoin took several months to initiate a new bull wave. Therefore, we can expect that the current signal may indicate significant increases in the coming months.
Additionally, other technical indicators, such as RSI (Relative Strength Index), confirm the end of the downtrend. The RSI on the weekly timeframe confirmed the first bullish divergence since September, further strengthening bullish sentiment in the market.
Bitcoin is once again at a key moment. The Hash Ribbon has indicated a buy signal for the first time in 8 months, signaling the end of miner capitulation and potentially a new wave of increases. Combined with bullish signals from other technical indicators, investors can expect a return to gains in the second quarter of this year.
Will Bitcoin break $100,000 this year? History shows that Hash Ribbon signals can herald long-term gains, but the cryptocurrency market always remains unpredictable. One thing is certain — this signal is one of the most promising indicators of a bull market. However, this does not mean that ... It cannot be wrong. The history of markets and economics is essentially a history of surprises and unmet expectations.
