Bitcoin traders celebrate as Hash Ribbon tool flips bullish, sparking $100,000 price target
Bitcoin traders are rejoicing as the well-known BTC price metric has turned bullish once again. The Hash Ribbon tool, developed by Capriole Investments, has signaled a buy in a "macro bullish" event. Bitcoin miners are expected to bounce back as the Hash Ribbon indicates the end of their recent "capitulation" phase. The Hash Ribbon tracks long-term buy opportunities using hash rate, with capitulation leading to price reversals. The latest buy signal was confirmed on March 24, sparking optimism for a potential BTC price surge above $100,000 in Q2 of 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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