Bitcoin Hash Ribbons are suggesting its time to purchase BTC once more

Key factors:

• A traditionally correct Bitcoin value metric is flashing inexperienced for the third time this 12 months.

• Miners’ BTC gross sales have slowed because the begin of the 12 months in comparison with 2024.

• Revenue-taking, whereas a well-liked transfer round all-time highs, is much less “euphoric” than earlier value cycles.

Bitcoin (BTC) continues to see “purchase the dip” alerts as mining hashrate ascends to new all-time highs.

The traditionally correct Hash Ribbons metric, tracked by onchain analytics platform CryptoQuant, is flashing inexperienced for the third time in 2025.

Hash Ribbons evaluation: Shopping for Bitcoin now could be “sensible transfer”

Bitcoin miner efficiency continues to be telling market contributors to purchase regardless of value hitting new all-time highs final month.

Hash Ribbons, which measures the 30-day and 60-day shifting common of hashrate, now says that even present costs characterize a “long-term shopping for alternative.”

“It’s not a giant shock contemplating that the hashrate has not too long ago reached new all-time highs,” CryptoQuant contributor Darkfost commented in considered one of its “Quicktake” weblog posts on the subject.

Hash Ribbons has a formidable observe file of catching long-term value bottoms and has delivered “purchase” alerts comparatively hardly ever. 

In a put up on X, Darkfost noticed that this time round, little consideration was being paid to the indicator.

“Backside line, this sign is telling you that purchasing the dip round right here is a brilliant transfer,” he added.

In the meantime, miners’ BTC reserves are staying roughly flat by way of 2025 after sustained promoting all through final 12 months.

Cash in identified miner wallets totaled round 1.8 million BTC as of June 4.

Revenue-taking “euphoria” fades

Elsewhere, as Cointelegraph continues to report, large-volume buyers have seized the chance to lock in income at all-time highs.

Associated: Bitcoin on ‘very shaky floor’ as new BTC value high nears: Ammous

Bitcoin whales and long-term holders alike have been cashing out, however in comparison with earlier value cycles, their strikes are extra nuanced, in response to analysis from onchain analytics agency Glassnode this week.

Within the newest version of its common publication, “The Week Onchain,” Glassnode used the 90-day easy shifting common of hodlers’ realized income to “evaluate profit-taking depth throughout cycles on an apples-to-apples foundation.”

“A transparent development emerges: profit-taking has grown much less euphoric over time, reflecting the broader degradation in cyclical upside efficiency and decrease volatility profiles because the market matures,” researchers summarized.

This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.