Bitcoin flips 'macro bullish' amid first Hash Ribbon buy signal in 8 months

Bitcoin (BTC) traders are celebrating as one of the best-known BTC price metrics finally flips bullish again.The popular Hash Ribbon tool, created by quantitative Bitcoin and digital asset fund Capriole Investments, has printed its first buy signal in a “macro bullish” event.Hash Ribbon sparks $100,000 Q2 BTC price targetBitcoin miners look set to make a comeback as the Hash Ribbon metric marks the end of their latest “capitulation” phase.The Hash Ribbon effectively tracks potential long-term buy opportunities using hash rate — when miner profitability is at risk and network participants retire, this traditionally forms the capitulation which in turn leads to long-term price reversals source: https://cointelegraph.com/news/bitcoin-flips-macro-bullish-hash-ribbon-buy-signal-8-months?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound