Bitcoin’s Hash Ribbons Signal Points to Potential Bull Run

CryptoQuant analysts have detected a promising buy signal for Bitcoin, indicating the potential for an upcoming bullish reversal. The Hash Ribbons indicator, known for predicting major price swings, recently signaled a crossover in Bitcoin’s (BTC) 30-day and 60-day hashrate moving averages. This pattern often precedes substantial price recoveries, triggered when weaker miners are forced to sell their BTC holdings during periods of financial unprofitability.