The BTC hash ribbon indicator, tracked by the on-chain analysis platform Capriole Investments, has issued its fifth "buy signal" in 2025.
Key points:
A historically accurate BTC price indicator has issued a "buy" signal for the fifth time this year.
BTC sales by miners have accelerated since the beginning of October, more noticeably than earlier this year.
Bitcoin is hovering between the $93,000 year-to-date opening price and the demand zone below $90,000, reflecting traders' indecision about the direction of BTC price movements.
A historically accurate Bitcoin miner performance indicator is telling market participants that despite the price dropping from a historical high of $126,000 to a low of $80,500 on November 21, it is still a buy.
The hash ribbon indicator, used to identify the recovery of hash rate and price after miners exit the market, indicates that miners are under pressure.
The chart below shows that the 30-day moving average (MA) of hash rate has fallen below the 60-day MA, indicating miner capitulation, which is typically associated with significant price discounts and long-term opportunities.
The hash ribbon indicator has an impressive track record in capturing long-term price bottoms and rarely issues "buy" signals.
CryptoQuant contributor Darkfost noted in an analysis on X: "This does not mean you have to rush to 'buy.'"
He stated: "This highlights the phase where miners are under pressure." He added:
The analyst concluded that, in the long run, these forced sell-offs "historically created very strong accumulation opportunities."
Although miners' BTC reserves have remained relatively stable throughout 2025, there has been a continuous sell-off since the beginning of October. Known miner wallets totaled about 1.8 million BTC on Tuesday, a decrease of 5,000 BTC since October 10.
Bitcoin's recent rebound has encountered resistance at the $93,300 year-to-date opening price, which coincides with the 200-period simple moving average (SMA), as shown in the four-hour chart below.
Analysts pointed out that despite this, BTC/USD has found support in the $89,000-$90,500 demand zone, where the 50 and 100-period SMAs are also located.
Market experts believe that Bitcoin's price needs to break through the $92,000 resistance level and surpass the 200-period SMA to escape the downward trend and achieve a sustained recovery towards $100,000.
Cointelegraph previously reported that bearish forces will attempt to pull the price below the $90,000 support level, which could lead to an extended decline, potentially down to the $40,000 level.
Related: Bitcoin rekindles FOMO at the $94,000 level, but the Federal Reserve may dampen this rally
Original article: “Bitcoin Hash Ribbons Flash 'Buy' Signal at $90,000: Will BTC Price Rebound?”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
