๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ฎ๐๐ต ๐ฅ๐ถ๐ฏ๐ฏ๐ผ๐ป๐ ๐๐น๐ฎ๐๐ต ๐๐จ๐ฌ ๐ฆ๐๐๐ก๐๐!
Is BTC Ready for the Next Major Move?
โฌ Whatโs Happening?
The Hash Ribbons indicator โ a key on-chain tool that tracks miner activity โ just triggered a fresh BUY signal for Bitcoin (BTC), according to CryptoQuant.
๐ง How it works:
Hash Ribbons compare the 30-day and 60-day averages of Bitcoinโs hashrate. When the short-term line crosses above the long-term after a drop, it usually signals miner recovery and potential bottoming out โ often followed by strong price gains.
โฌ What It Means for BTC:
โ Miners who were struggling may have finished selling, relieving price pressure.
โ Historically, this signal has marked prime accumulation zones โ with the exception of 2021โs China mining ban.
โ Bitcoinโs hashrate just hit a new ATH, adding strength to the signal.
โฌ Short-Term Risks?
While the long-term signal is bullish, some analysts see possible short-term dips:
๐ธ Xanrox warns BTC could pull back to $98,000 using Fibonacci levels.
๐ธ Jelle expects a โfinal speed bumpโ before BTC targets $140,000.
๐ธ Some pessimists still predict crashes below $10K โ but thatโs seen as unlikely now.
โฌ Market Sentiment Remains Positive
๐ข Derivatives market has reset, funding rates are stable.
๐ข On-chain health is strong, miner stress easing.
๐ข Tom Lee from Fundstrat sees BTC hitting $250,000 by year-end.
Hash Ribbons are flashing green โ a sign that Bitcoinโs foundations are stabilizing.
Even if short-term volatility appears, long-term signals point to growth.
Accumulate the dip? Many long-term investors think so.
๐ฌ Will this signal lead to a breakout โ or is there still one last dip left?