Analysts Indicate Bullish Signals in Bitcoin Market
Analysts point out that both the Bitcoin Hash Ribbons and Bitfinex leveraged long positions indicators are currently showing bullish signals in the Bitcoin market, suggesting that the current price may present a long-term buying opportunity for investors.
(Background: Bitfinex Analyst: Bitcoin Could Surge If the Fed Cuts Rates Early in June!)
(Context: Can Bitcoin Continue to Reach New Historical Highs? BTC Search Interest Is Cooling, Volatility Approaches Two-Year Low)
Last night, Bitcoin quickly dropped from the $105,000 level, reaching $100,400 before the U.S. stock market closed, nearly breaching the $100,000 threshold. Some community members attributed the drop to Trump and Musk’s exchanges on social media, which caused fluctuations in the U.S. stock market.
However, Bitcoin is currently reported at $101,599. If it can maintain this price level, even with a second dip, it may quickly rebound, accumulating momentum for further upward movement.
Analysts: Hash Ribbons Indicator Signals Buy
CryptoQuant analyst Darkfost also posted on social platform X yesterday, indicating that the technical indicator Hash Ribbons has issued its third buy signal since 2025, showing that the current price is an excellent opportunity to buy on the dip.
He detailed in a tweet:
Hash Ribbons has issued a buy signal! I haven’t seen many discussions about this, but we recently received a new buy signal from the Hash Ribbons indicator. This indicator is designed to help us assess the stress levels in the Bitcoin mining ecosystem. Given that hashrate recently reached an all-time high, this is not surprising.
Hash Ribbons simply compares the 30-day and 60-day moving averages of hashrate to identify periods where miners face significant stress. In this context, it is important to understand that this signal is negative in the short term. Why? Because when mining becomes unprofitable for some miners, they are forced to sell Bitcoin to maintain operations. (I won’t delve into the details of equipment retirement or closure here, as they are not particularly relevant in this context.)
Importantly, this selling pressure often creates interesting long-term buying opportunities. The analysis is not complicated; this indicator has always been quite accurate, except for the 2021 Chinese mining ban incident. In summary, this signal suggests that buying on the dip near the current price is a wise move.
What Is the Hash Ribbons Indicator?
Hash Ribbons is a technical indicator based on Bitcoin network hashrate, which assesses the relationship between miner activity and market trends by comparing the 30-day and 60-day moving averages of hashrate. When the 30-day average falls below the 60-day average, it indicates a decline in hashrate, suggesting that miners may be exiting due to cost pressures, hinting at short-term market pressure; conversely, when the 30-day average crosses back above the 60-day average, it is viewed as a buy signal, indicating a recovery in hashrate and increased miner confidence, typically associated with price bottoms or rebounds.
Another Bullish Signal: Bitfinex Leverage Position Data
Meanwhile, crypto analysis firm Alphractal recently pointed out on the X platform that the leverage position data from cryptocurrency exchange Bitfinex suggests that Bitcoin’s price may see further increases. Alphractal stated in a tweet:
When Bitfinex’s long positions rise, the price tends to fall; when long positions drop, the price usually goes up. The fascinating Bitfinex leveraged positions data remains off the radar for most analysts — either due to a lack of awareness or simply because they don’t consider this data relevant to their analysis. However, tracking Bitfinex’s long positions can provide valuable insights into price trends.
Why? Because traders’ assessments of market direction are often wrong, leading to liquidations and forced closures, which in turn drive prices in the opposite direction. Currently, Bitfinex’s long positions are declining. If this trend continues, it is a good sign indicating that prices may continue to rise. However, if long positions begin to rebound, it is a strong signal suggesting that prices may soon decline.
Conclusion
Both the Hash Ribbons and Bitfinex leveraged long positions indicators currently indicate bullish signals in the Bitcoin market. For investors, this data provides a reference that the current price may present a long-term buying opportunity. However, given the high market volatility, investors should remain cautious and consider combining other indicators for a more comprehensive analysis.
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2. Trump’s Truth Social Applies for Bitcoin ETF; Reviewer ‘SEC### is One of Their Own’ Sparks Controversy.
3. Bitcoin ‘Elliptic Curve’ Infringement? A U.S. Patent Company Sues Two Major Mining Firms, Lawyers Warn: A Victory Could Spell Disaster for the Industry.