Is This BTC’s Bottom? One of the Most Trusted Buy Signals in Bitcoin Just Flashed

Bitcoin’s price has drawn renewed attention following the activation of a historically reliable on-chain signal—the Hash Ribbon indicator. Currently trading around $84,500 after a 3.9% drop over the past 24 hours, Bitcoin (BTC) is under pressure from broader macro uncertainty.

However, the Hash Ribbon, which measures miner stress and recovery using 30-day and 60-day hash rate moving averages, has now flashed its eighth major buy signal in BTC’s history.

Developed by Charles Edwards, this signal occurs when the 30-day MA crosses above the 60-day MA, suggesting miner capitulation has ended. Historically, BTC has never dropped lower in 85% of previous cases following this signal.

Market commentators, including Bitcoin Archive, emphasize that in all seven prior instances, BTC rallied significantly post-signal, with no false triggers.

• BTC is down 3.9% over 24 hours, trading at $84.5K
• Hash Ribbon signal appeared only 20 times in BTC’s history
• Historically accurate in 85% of cases, signaling limited downside

Mixed Market Signals: A Warning from the Charts

Despite the optimism, technical analysts remain divided. Tony Severino, a Chartered Market Technician, flagged bearish divergences between price action and momentum indicators. “BTC is making higher highs while the RSI posts lower highs. That’s not bullish—it’s a red flag,” he noted.

BTC remains below the 50-period EMA near $86,000, reinforcing short-term bearish structure. The RSI sits around 36, rebounding from oversold levels, but lacks momentum. Unless BTC breaks above $86,800, recovery remains uncertain.

Macroeconomic Headwinds Add Caution

Even with the bullish on-chain signal, macro forces loom large. Strong U.S. economic data—Q4 GDP revised to 3.4% and jobless claims declining—supports a hawkish Fed stance, dampening appetite for risk assets like Bitcoin.

Meanwhile, geopolitical tensions are flaring again with Trump’s proposed 25% auto tariffs, set for April 2. While gold surged to an all-time high of $3,059 on the news, BTC hasn’t mirrored the safe-haven rally.

This divergence has left some questioning Bitcoin’s role as digital gold. Jamie Coutts of Real Vision noted, “Hash Ribbons are a solid signal, but broader conditions aren’t aligning like previous cycles.”

With Wall Street returning post-holiday and ETF flows stabilizing, short-term direction may depend on how BTC reacts to upcoming inflation data.

• Gold hits $3,059 ATH while BTC lags behind
• Trump’s tariffs add to global economic anxiety
• ETF inflows flatline amid mixed crypto sentiment

Bitcoin Consolidates Near $84.5K Amid Cooling Bearish Pressure

BTC is stabilizing near $84,500 after a sharp drop, finding short-term support at $83,000. The RSI is rebounding from oversold levels, hinting at fading bearish momentum.

However, BTC remains below the 50-EMA at $86,000, keeping the near-term bias bearish.

• Upside target: Break above $86,800 could trigger a rally toward $88,800
• Downside risk: Drop below $83,000 may expose $81,200
• Market tone: Cautious, with $34B daily volume and 2.86% drop

BTC is consolidating in a narrowing range, with macro catalysts likely to dictate the next move.

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