Jan 9, 2026
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Bitcoin Hash Ribbons Signal Triggers Potential Price Rally After Decline
The Bitcoin hash ribbons indicator has signaled a buy on the weekly timeframe, according to crypto analyst Kevin (@Kev Capital TA). This indicator is known for its historical association with rising prices post-correction, boasting an 84% success rate, though recent signals have been less reliable.
- The hash ribbons measure miner stress and recovery by comparing short- (30-day) and long-term (60-day) moving averages of network hash rate.
- A crossover of the 30-day above the 60-day suggests miner recovery and acts as a buy signal.
- Recent activity showed capitulation in late December, followed by a buy signal at month's end. The model's reliability has been questioned after two recent signals didn't yield typical returns.
- Despite mixed results, current conditions—post a 36% Bitcoin drawdown—are seen as favorable for the indicator's performance.
Kevin emphasized that while the setup generally takes several weeks to materialize, timing remains unpredictable. Currently, Bitcoin trades at $91,009.
