Bitcoin Holds Above $100,000 as Hash Ribbons Signal Buy Opportunity

Bitcoin is currently in a critical phase, trading below its all-time high of $112,000 but maintaining support above the $100,000 mark. Despite escalating macroeconomic tensions, including rising US Treasury yields and geopolitical friction, Bitcoin has shown resilience, holding firm above key demand zones. This stability has sparked debate among analysts, with some predicting a deeper correction and others forecasting a breakout into new price territories.

Market sentiment is mixed, with increased volatility and on-chain data indicating caution among retail participants. However, a significant development has emerged. According to top analyst Darkfost, the Hash Ribbons indicator, which tracks miner stress and has historically signaled strong buy opportunities, has just flashed a new buy signal. This is particularly noteworthy as Bitcoin’s hashrate recently hit new all-time highs, indicating growing network strength despite price consolidation.

The Hash Ribbons signal suggests that short-term miner capitulation may be over, and that long-term investors could see a favorable entry point. With Bitcoin now poised for a decisive move, this signal could act as a catalyst, reigniting momentum as traders watch closely for a push toward new highs in the coming days.

Bitcoin could be on the verge of a major move as it consolidates below its all-time high of $112,000. The market remains tense, with bulls holding control but facing pressure from rising macroeconomic risks, including ongoing bond market stress and escalating global trade tensions. If Bitcoin fails to reclaim momentum and drops below critical demand levels, it could trigger a deeper correction. However, a breakout above $112,000 would likely reignite bullish sentiment across the crypto space.

Darkfost highlighted a key technical signal that’s flying under the radar—a new buy signal from the Hash Ribbons indicator. This metric assesses stress levels in the Bitcoin mining ecosystem by comparing the 30-day and 60-day moving averages of the network hashrate. When the short-term average crosses above the long-term average after a period of capitulation, it typically signals that miner sell pressure is easing and accumulation may follow.

While these periods of miner stress can be short-term bearish—since some miners are forced to liquidate Bitcoin to stay solvent—they often present high-quality entry points for long-term investors. Notably, the recent Hash Ribbons buy signal aligns with Bitcoin’s hashrate reaching new all-time highs, reflecting network resilience despite price stagnation.

If bulls take advantage of this setup, the market could see a strong push toward a new price discovery phase. But failure to hold above key support levels may open the door for a retest of the sub-$100,000 zone. As always, the next few sessions will be crucial in determining Bitcoin’s trajectory for the weeks ahead.

Bitcoin continues to consolidate between the $103,600 support and $109,300 resistance zone, as seen on the daily chart. After reaching a new all-time high near $112,000, the price retraced and is now holding slightly above the 34-day EMA at $103,298. This moving average, alongside the $103,600 horizontal level, acts as the key demand zone bulls must defend to maintain the current bullish structure.

Despite the recent pullback, Bitcoin remains in a broader uptrend, supported by higher lows since the March bottom. However, momentum is clearly fading as daily candles show lower highs and declining volume. A break above $109,300 would likely re-ignite bullish momentum and pave the way for a potential push toward new all-time highs.

On the downside, a confirmed break below $103,600 could trigger a sharper correction, with the next key support at the 100-day SMA near $92,245. Traders should watch for a daily close outside of this range to determine the next directional move.