Bitcoin Hash Ribbons Flash ‘Buy’ Signal at $90K: Will BTC Price Rebound?

The world of cryptocurrencies is known for its unpredictable nature, with prices often fluctuating rapidly due to a multitude of factors. In this market, experts and analysts rely on a variety of metrics and indicators to gain insights into potential price movements. One such metric, the Bitcoin Hash Ribbons, has sent a ‘buy’ signal for the fifth time in 2025, indicating a possible rebound in the cryptocurrency’s price.

A Historical Context: Understanding Hash Ribbons

To understand the significance of this metric, it’s essential to have a basic understanding of the concept of Hash Ribbons. This metric, developed by the on-chain analytics platform Capriole Investments, tracks the relationship between the hashrate (a measure of the combined computational power of the Bitcoin network) and the price of Bitcoin. By analyzing this relationship, we can identify when miners are under pressure and potentially looking to sell their BTC holdings.

The Current State of Bitcoin Miner Reserves

Data from CryptoQuant reveals that miners’ BTC reserves have remained relatively flat throughout 2025, with some sustained selling since early October. On Tuesday, known miner wallets totaled around 1.8 million BTC, down by 5,000 BTC since October 10. This reduction in reserves indicates that miners may be looking to exit the market, potentially creating a buying opportunity for market participants.

The Hash Ribbons Chart: A Visual Representation

Below is a chart depicting the 30-day moving average (MA) of the hashrate, which has dropped below the 60-day MA. This signals miner capitulation, often syncing with major price discounts and long-term opportunities.

Source: Capriole Investments

Darkfost’s Analysis: A Closer Look

CryptoQuant contributor Darkfost analyzed the topic in an X post, highlighting the significance of Hash Ribbons’ ‘buy’ signals. According to Darkfost, these signals “highlight phases where miners are under pressure” and may result in “forced sell-offs that have historically created very strong accumulation opportunities.” However, Darkfost also cautions that these periods “tend to be bearish in the short term” due to miners’ need to increase their selling to cover production costs.

BTC/USD Price Dynamics: A Critical Analysis

On a four-hour chart, it’s clear that Bitcoin’s recent recovery has been met with resistance from the yearly open at $93,300, coinciding with the 200-period simple moving average (SMA). However, the price found support at the $89,000-$90,500 demand zone, where the 50 and 100 SMAs are currently positioned. For a sustained recovery towards $100,000, the price must break above the resistance at $92,000 and the 200 SMA.

Source: Cointelegraph/TradingView

The Road Ahead: Anticipating Price Shifts

While the Hash Ribbons ‘buy’ signal indicates a possible rebound, it’s essential to keep in mind that every investment and trading move involves risk. Market participants must conduct their own research and assess the current market dynamics to make informed decisions.

Will the Bitcoin price rebound, or will the bears succeed in pulling the price down below $90,000 support for a prolonged decline? Only time will tell, but for now, the Hash Ribbons’ ‘buy’ signal offers a glimmer of hope for those seeking a potential long-term buying opportunity.

Frequently Asked Questions

Q: What is the Bitcoin Hash Ribbons metric?
A: The Bitcoin Hash Ribbons metric is a tool developed by Capriole Investments to track the relationship between the hashrate and the price of Bitcoin. It’s designed to identify when miners are under pressure and potentially looking to sell their BTC holdings.

Q: What is a ‘buy’ signal in the context of Hash Ribbons?
A: A ‘buy’ signal in the context of Hash Ribbons is indicated when the 30-day moving average of the hashrate drops below the 60-day moving average, signaling miner capitulation and potential long-term opportunities.

Q: Is it safe to invest in Bitcoin at current prices?
A: Every investment and trading move involves risk. While the Hash Ribbons ‘buy’ signal indicates a possible rebound, it’s essential to conduct your own research and assess the current market dynamics before making any investment decisions.