Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
The Hash Ribbon indicator—an on-chain metric designed to identify periods of miner capitulation and subsequent recovery—has just issued a bullish signal for Bitcoin. Several well-known figures within the BTC community highlighted the event through posts on X , suggesting that the signal could mark a turning point in the market.
The Ultimate Bitcoin Buy Signal?
First introduced by on-chain analyst Charles Edwards, the Hash Ribbon relies on two moving averages (commonly the 30-day and 60-day averages of Bitcoin’s hash rate) to determine when mining difficulty and hash power may have capitulated and begun to recover. Traditionally, a “buy” signal is triggered once the 30-day MA crosses decisively above the 60-day MA, indicating that any period of miner-driven distress may be over.
According to historical data, major buy signals have frequently appeared after sharp market downturns, sometimes coinciding with cycle bottoms. Although the indicator is not infallible, it has correctly identified several previous lows in Bitcoin’s history—most notably in 2011–2012, during the depths of the 2014–2015 bear market, around the $3k bottom of late 2018–early 2019, and near the $29k region in mid-2021.
Shortly after the latest crossover was triggered, popular commentator Bitcoin Archive posted: “BITCOIN HASH-RIBBON FLASHES BUY SIGNAL – This is one of the most reliable ‘buy’ indicators. Significant price gains have followed 7 out of the last 7 times this indicator was triggered.”
Edwards, the creator of the Hash Ribbon, retweeted this post, a move that many interpreted as an endorsement of the analysis. Adding to the discussion, a user noted: “Signal flashed only 20 times in Bitcoin’s history. 17/20 times the most recent local low was never violated on a closing basis. We can sweep the lows, or even wick below, but 85% of the time the low’s in and it’s up only from here.”
Meanwhile, Jamie Coutts, chief analyst at Real Vision, stressed the importance of monitoring multiple on-chain metrics, even as the Hash Ribbon flashes bullish: “The widely watched Bitcoin Hash Ribbon signal just fired. While on-chain activity remains sluggish, the metrics with the strongest historical correlation to future price performance are flashing green.”
Notably, many on-chain signals haven’t reached the levels of previous cycles even when the Bitcoin price hit almost $110,000 in mid-January. Also traditional technical signals haven’t reached peaks of the past.
Tony Severino, a Chartered Market Technician (CMT) and Head of Research at NewsBTC, has recently shifted from a bullish to a bearish stance on Bitcoin. Severino, who is also the founder of CoinChartist.io, argues that Bitcoin’s price action and on-chain metrics no longer support the bullish narratives common in past cycles.
“The idea that Bitcoin HAS to reach past extremes on indicators is a dangerous way of thinking. Higher highs in price and lower highs on an oscillator is a bearish signal,” Severino stated recently.
Severino warns against expecting Bitcoin to replicate its historical pattern of pushing certain momentum indicators (e.g., RSI or MACD) to extreme levels. Instead, he notes that divergences—where price climbs to new highs but technical indicators fail to confirm those highs—can signal market exhaustion. “The tools I use are bearish, period,” he remarked via X.
At press time, BTC traded at $87,373.
Featured image created with DALL.E, chart from TradingView.com
Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.
His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.
Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.
For Jake, Bitcoin represents more than just an investment; it’s a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.
As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.
In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.
You can engage with his latest takes on Twitter: @realJakeSimmons.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
