Bitcoin is holding above $100,000 and consolidating just below its all-time high of $112K. While macro headwinds persist — including rising bond yields and global trade tensions — on-chain signals are quietly turning bullish.

The latest development? The Hash Ribbons indicator has just triggered a fresh buy signal, historically known to precede strong upside moves.

📉 What Are Hash Ribbons and Why They Matter

The Hash Ribbons compare 30-day and 60-day moving averages of Bitcoin’s hashrate. When the short-term crosses above the long-term after miner capitulation, it’s often interpreted as a signal that sell pressure from miners is fading, and accumulation may resume.

This signal has now aligned with a record-high hashrate, suggesting strong underlying network security — even as price chops sideways.

🧠 Bulls Holding the Line — But For How Long?

• BTC Range: $103,600 (support) to $109,300 (resistance)
• Structure: Uptrend still intact, but momentum is stalling
• Key Level: $103,600 must hold to avoid deeper retrace
• Upside Trigger: A daily close above $109,300 could reignite bullish momentum

Despite fading volume and lower daily highs, the broader market is watching this range closely. If bulls push above resistance, the road toward new all-time highs could reopen quickly.

🧭 Opportunity or Warning?

For long-term investors, this Hash Ribbons buy may offer a favorable entry point. Historically, these setups have preceded multi-week rallies — but they’re not infallible. If $103K breaks down, we could see a revisit to the $92K zone where the 100-day moving average sits.

This is not investment advice. Always conduct your own research and assess your risk tolerance before entering the market.