bitcoin Hash Ribbons, a historically reliable onchain metric, have just delivered their third
buy
signal of 2025, suggesting that the cryptocurrency may be entering another favorable phase for accumulation.
This indicator, which combines the 30-day and 60-day moving averages of bitcoin's hashrate, has a track record of identifying long-term bottoms, making it valuable for both retail and institutional investors interested in crypto cycles.
According to CryptoQuant analyst Darkfost, recent movements in hashrate support the current buy signal, as the network's hashrate recently reached all-time highs.
He emphasizes that buying bitcoin now could be considered a “smart move,” especially since the Hash Ribbons are rarely wrong when signaling long-term bottoms.
The recent green flip on Hash Ribbons coincides with miners' BTC reserves remaining relatively stable after last year's significant sell-offs. As of June 4, known miner wallets held approximately 1.8 million BTC, indicating that miners are not aggressively offloading their holdings despite rising prices.
Meanwhile, profit-taking among large-volume investors appears to be less euphoric than during previous bull cycles. Glassnode’s analysis highlights that overall profit-taking activity is subdued, reflecting a maturing market with reduced volatility and cyclical upside potential.
A recent tweet underscores this cautious optimism:
This suggests that while retail traders may still be cautious, onchain signals like Hash Ribbons are pointing toward a sustained bullish phase for in 2025.
analysts note that bitcoin's ascent to new all-time highs has not triggered widespread profit-taking euphoria, which often characterizes late-stage bull runs. Instead, measured profit realization indicates growing maturity within the crypto ecosystem.
From a CeFi perspective, increased institutional interest and evolving regulations around stablecoins and crypto reserves could further stabilize growth through 2025. These factors enhance investor confidence and reduce systemic risks associated with rapid price swings.
In summary, the combination of strong onchain signals such as the Hash Ribbons, stable miner reserves, and subdued profit-taking activity positions bitcoin favorably for continued growth this year. For crypto investors and traders, monitoring these indicators is essential for understanding potential entry points and long-term trends.
As bitcoin continues to demonstrate resilience amid macroeconomic uncertainties, these technical signals reinforce its status as a key asset within the evolving crypto landscape.
