Cryptocurrency analyst James Van Straten believes Bitcoin (BTC) could hold and mark $90k as a local price bottom. He points to the Hash Ribbon indicator, which signals miner capitulation, as a key sign of this potential bottom. While a 4% difficulty adjustment is expected to increase pressure on miners, Van Straten remains confident that $90k is a strong support level.
, analyst James Van Straten believes that the cryptocurrency could hold and mark $90k as the local price bottom. According to him, the
“Hash ribbon signalling miner capitulation which usually marks a bottom, typically lasts around 30 days. Last time was October 2024.”In most cases, the hash ribbon indicator has also acted as a buying opportunity as it has coincided with the cryptocurrency’s bottoms. Will the trend repeat itself though?“Difficulty is expect to adjust 4% to ATHs on Sunday, more stress on miners. Have more confidence that $90k is the bottom of this range.
BITCOIN HASH RIBBON MINER CAPITULATION DIFFICULTY ADJUSTMENT BUYING OPPORTUNITY
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