Bitcoin (BTC) Emits a Buy Signal For the First Time in Eight Months: Hash Ribbons and RSI Align

For the first time in eight months, the Hash Ribbon, a key indicator of Bitcoin miners' health, has just issued a buy signal.

For the first time in eight months, the Hash Ribbon, a key indicator of Bitcoin miners’ health, has just issued a buy signal. A rare event, often a precursor to major reversals. As Bitcoin flirts with $87,492, this technical alert is accompanied by another signal: the break of a historic downtrend on the RSI. Coincidence? Not if you believe the experts.

Bitcoin shifts into a ‘macro-bullish’ phase: the Hash Ribbon emerges from the shadows

Since July 24, the Hash Ribbon had not flashed green. Its awakening on March 24 acts like an electric shock.

Created by Capriole Investments, this tool analyzes the cycles of miners through two moving averages of the hash rate (30 and 60 days). When the short average surpasses the long one, capitulations fade. Miners, previously strangled by declining profitability, are back in the game.

A signal that transcends charts. Historically, each activation of the Hash Ribbon has preceded major rallies.

In July 2024, Bitcoin was still struggling to find a floor, but the bullish movement ultimately swept away the skeptics. A similar scenario occurred in August 2023: after months of hesitation, the price took off.

Today, traders anticipate a repetition of the pattern. “This is a macro-bullish trend,” emphasizes Titan of Crypto on X.

The technological dynamics as an accelerator. Ryan Lee, chief analyst at Bitget, observes a growing correlation between Bitcoin and tech values:

The recent rise in cryptocurrency-related stocks, alongside gains in Bitcoin and the Nasdaq, highlights the increasing risk appetite. BTC is now viewed more as a tech asset due to new innovations like Bitcoin ETFs and Spark Token.

RSI: the drop halted, hope reborn

But that’s not all. In the shadow of the Hash Ribbon, another key indicator draws a metamorphosis: the Relative Strength Index (RSI).

On the weekly chart, a bullish divergence has formed for the first time since September. Translation? The selling momentum is fading, despite still timid prices.

On the daily chart, the RSI has breached a resistance that had been in place since November. “The multi-month downtrend is over,” confirms Rekt Capital, a technical analyst. A symbolic break, often interpreted as the prelude to a price acceleration.

For Bitcoin, it’s a relief after a disappointing first quarter of 2025, marked by erratic volatility. The convergence between Hash Ribbon and RSI is not insignificant. One validates the network’s strength, the other measures overbought or oversold conditions. Together, they form a coherent narrative: technical fundamentals and miner activity align for a recovery. The question remains whether institutional investors, often hesitant in times of doubt, will join the dance.

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Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.