24/7 Cryptocurrency News

Ignore The FUD, This Historic Bitcoin Indicator Is Extremely Bullish

While the BTC prices plummeted sharply yesterday, a key indicator is revealing that the Bitcoin is set to be extremely bullish.
Published by
Ignore The FUD, This Historic Bitcoin Indicator Is Extremely Bullish

The Bitcoin rally after the July Consumer Price Index release has lost its momentum. Bitcoin suffered sharp and significant losses, falling close to 10% within 24 hours. Ethereum, which was showing bullish movement following progress in the Ethereum merge, also declined heavily. 

Reports highlighted that over half a billion dollars worth of crypto was liquidated as BTC and ETH plummeted. However, a new key indicator reveals that Bitcoin is set to be extremely bullish.

The Hash Ribbons Indicator has just given the buy signal for Bitcoin. According to many experts, the Hash Ribbons indicator is one of the most meaningful for Bitcoin. Every time this has happened, BTC has gone up by at least 65%.

Advertisement

Why The Bitcoin Price Was Plummeting

Bitcoin price went up significantly after the release of the Consumer Price Index. The CPI, released by the US Bureau Of Labor Statistics, was lower than estimated. This highlighted cooling inflation after months of record highs. 

In addition, the US GDP showed negative growth for two consecutive months. This meets the technical criteria for a recession. The two factors led everyone to believe that the Fed will pivot from its hawkish stance.

However, the release of FOMC minutes and the public comments made by certain Fed officials speak otherwise. Some of the historically dovish Fed officials, like the President and CEO of Minneapolis Fed, Neel Kashkari, have highlighted that he is in favor of a tough stance against inflation. The traditionally hawkish officials like James Bullard of St. Louis have also shown no signs of a pivot.

Moreover, experts have pointed out that Bitcoin traders may also be factoring in conditions in Europe. The U.K. is already struggling with double-digit inflation. Meanwhile, Germany’s producer prices have surged by more than 37%. As a result, BTC dropped significantly and sharply.

Advertisement

How Will BTC Prices React

BTC is yet to show any movement in response to the buy signal from the Hash Ribbons Indicator. However, experts believe that it is only a matter of time before traders start accumulating again.

BTC is currently trading at $21,290.

Share
Nidhish Shanker

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society's biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Bitcoin Treasuries Add Nearly $1B BTC This Week as Holdings Cross 1M BTC

This week, corporate Bitcoin treasuries exceeded 1 million BTC in total holdings. From September 1…

September 7, 2025
  • Bitcoin News

Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH

Popular gold advocate Peter Schiff has criticized Bitcoin’s weakness against gold, calling it near bear…

September 7, 2025
  • Bitcoin News

Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure

Arkham Intelligence has identified 45,000 Bitcoin (BTC), valued at nearly $5 billion, that remains untouched…

September 7, 2025
  • 24/7 Cryptocurrency News

Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline

Ethereum ETFs faced a sharp investor pullback this week, shedding nearly half a billion dollars…

September 6, 2025
  • 24/7 Cryptocurrency News

World Liberty Financial Discloses Reason for Blacklisting 272 Wallets

World Liberty Financial (WLFI) has confirmed that it blacklisted 272 wallets and explained why it…

September 6, 2025
  • 24/7 Cryptocurrency News

September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data

Traders are beginning to price in the possibility of a 50 basis points (bps) Fed…

September 6, 2025