Bitcoin breaks the $92,000 barrier... Is a year-end rally possible?

Source: DigitalToday Original Title: Bitcoin breaks through the $92,000 barrier… Is a year-end rally possible? Original Link: https://www.digitaltoday.co.kr/news/articleView.html?idxno=611612

The Bitcoin(BTC) hash ribbon indicator has flashed its fifth ‘buy’ signal for 2025.

According to blockchain analysis, this indicator tracked by a crypto analytics platform has historically pinpointed accurate price bottoms and has served as a long-term bullish signal. However, recent volatility in Bitcoin’s price—with a sharp drop from $126,000 to $80,500—has heightened market anxiety.

The hash ribbon signals that miners(Bitcoin miners) have entered a capitulation phase, which is usually accompanied by a steep price drop and presents a long-term buying opportunity. In fact, selling pressure from Bitcoin miners has accelerated since early October, with known miner wallets(miner holding accounts) seeing a decrease of 5,000 BTC.

Currently, Bitcoin is trading at the $92,600 level, having broken through the first resistance at $92,000. For a full transition to an uptrend, it must secure its current price as a support and rise above the 200-day simple moving average(SMA).

Ultimately, the key is whether Bitcoin can maintain its current upward momentum and move above the 200-day simple moving average. Attention is focused on whether this hash ribbon buy signal will mark not just a technical rebound, but also the starting point for a full-fledged year-end rally.