{"id":125768,"date":"2025-03-25T11:15:55","date_gmt":"2025-03-25T11:15:55","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125768"},"modified":"2025-03-25T11:15:55","modified_gmt":"2025-03-25T11:15:55","slug":"bitcoin-flips-macro-bullish-amid-first-hash-ribbon-buy-signal-in-8-months","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125768","title":{"rendered":"Bitcoin flips &#039;macro bullish&#039; amid first Hash Ribbon buy signal in 8 months"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) traders are celebrating as one of the best-known BTC price metrics finally flipped bullish again.<br \/>\nThe popular Hash Ribbon tool, created by quantitative Bitcoin and digital asset fund Capriole Investments, printed a first buy signal in a \u201cmacro bullish\u201d event.<br \/>\nHash Ribbon sparks $100,000 Q2 BTC price target<br \/>\nBitcoin miners look set to make a comeback as the Hash Ribbon metric marks the end of their latest \u201ccapitulation\u201d phase.<br \/>\nThe Hash Ribbon tracks potential long-term buy opportunities using hashrate; when miner profitability is at risk and network participants retire, this forms the capitulation which in turn leads to long-term price reversals.<br \/>\nThese are monitored using two moving averages of hashrate: the 30-day and 60-day. Capitulations correspond to the former crossing below the latter, while the reverse is true for buy signals.<br \/>\nAccording to data from Cointelegraph Markets Pro and TradingView, the Hash Ribbon put in its latest buy signal on March 24. It is visible on both daily and weekly timeframes.<br \/>\n\u201cThis is macro Bullish,\u201d trader Titan of Crypto wrote on X.<br \/>\nBTC\/USD 1-week chart with Hash Ribbon data. Source: Cointelegraph\/TradingViewThe previous Hash Ribbon buy signal came in July 2024. At the time, BTC\/USD had yet to bottom out, and it took several months before a wave of upside began.<br \/>\nA similar scenario happened after a buy signal printed in August 2023.<br \/>\nOptimism over the latest development seemed tangible after much of Q1 2025 was marred by disappointing BTC price action.<br \/>\n\u201cOne of the most accurate mid-term indicators is bullish now,\u201d fellow trader Robert Mercer added.<br \/>\n\u201cExpecting $BTC to go back above $100,000 in Q2 of 2025!\u201d<br \/>\nBitcoin ends \u201cmultimonth RSI downtrend\u201d<br \/>\nAs Cointelegraph reported, Bitcoin has already begun to tease a bullish market turnaround as March nears a close.<br \/>\nRelated: Bitcoin must reclaim this key 2025 level to avoid new lows \u2014 Research<br \/>\nChief among the signs is the relative strength index (RSI) indicator, which, like the Hash Ribbon, is in the process of returning to form after months of suppression.<br \/>\nOn weekly timeframes, RSI has confirmed a bullish divergence for the first time since September, while the daily chart is showing a support retest after breaking through a downward trend line in place since November.<br \/>\n\u201cThe multimonth RSI Downtrend is over,\u201d trader and analyst Rekt Capital confirmed to X followers this week.<br \/>\nBTC\/USD 1-day chart with RSI data. Source: Rekt Capital\/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-flips-macro-bullish-hash-ribbon-buy-signal-8-months?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) traders are celebrating as one of the best-known BTC price metrics finally flipped bullish again. The popular Hash Ribbon tool, created by quantitative Bitcoin and digital&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125768"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125768"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125768\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125768"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}