NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report

A Rare Bullish Bitcoin Signal Has Finally Appeared

Keshav Verma
Keshav Verma
Last Updated: June 11, 2024 1:57 pm
3 mins read
Bitcoin Bull

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A rare bullish bitcoin signal, the difficulty ribbon compression, has started pumping up for the first time since the bull run started.

The Bitcoin Difficulty Ribbon Compression Goes Up

As pointed out by a BTC analyst on Twitter, the difficulty ribbon compression seems to be going up for the first time since the bull run started.

The indicator is a measure of the moving averages of bitcoin mining difficulty. The mining difficulty metric can be calculated by estimating the number of hashes for mining a block.

To properly quantify these values, the BTC difficulty ribbon compression uses a normalized standard deviation. Higher values have historically been associated with the price moving up, while lower values suggest a downward trend.

Related Reading | Bitcoin Fundamental Expert Claims Adoption Metrics “Look Awful”

Now, here is how the chart looks like for the BTC difficulty ribbon compression in the past decade:

Bitcoin Ribbon Compression

BTC difficulty ribbon compression seems to be sharply rising | Source: glassnode

The above graph reveals some interesting features about the indicator. It does seem like that the difficulty ribbon compression has a historic relationship with the price.

Related Reading | Bitcoin Daily Close Pivotal To Save Dangerous RSI Breakdown

It looks like when the value of the indicator drops very low, BTC hits a low on the curve. And when it rises, like it is doing right now, the price also moves up.

However, there is something to consider here. The indicator is a measure of the mining difficulty, and right now the world hash rate is facing some special circumstances due to the China crackdowns.

After massively dropping for a while, the global Bitcoin hash rate has started to go up again as miners migrate from China to other countries like the US. This should mean the difficult would go up quickly as the usual mining farms start their operations again.

Such a ramp up in difficulty might look like what the chart is showing right now.

BTC Price

Bitcoin price is around $32k at the time of writing, down 4% in the last 7 days. Over the last month, the coin has dropped almost 17% in value.

Here is a chart showing the trend in the crypto’s value over the past 6 months:

Bitcoin Price Chart

Bitcoin seems to be on a downtrend | Source: BTCUSD on TradingView

BTC’s price continues to be range bound as the crypto remains stuck in the $30k to $35k range. It’s unclear when the coin might escape these levels, and which direction it might go in next.

If the difficulty ribbon compression is anything to go by, Bitcoin’s price might be seeing an increase soon. On the other hand, due to the special mining conditions, this rise in the value of the indicator might not directly translate to the price this time.

Tweet123Share196ShareSend
Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

maxi doge

Je Maxi Doge naslednji veliki kripto kovanec leta 2026?

Naslednji velik cikel kriptovalut se ogreva in vsi poskušajo uganiti, kateri token bo povzročil skokovito rast portfeljev. Zgodovinsko gledano najvišje...

tanjapotocnik 4 hours ago
Lucky Train Launches Web3 Gaming Project on TON Using Staking-Like Participation Model

Lucky Train Launches TON-Based Web3 Project With Staking-Like Participation Model

Web3 project Lucky Train has unveiled its gaming platform built on the TON blockchain, introducing a participation model inspired by...

Scott Matherson 5 hours ago

Vai GameFi kriptovalūtu nozare beidzot piedzīvos izrāvienu 2026. gadā

GameFi stāsts 2025. gadā izklausās pēc divām paralēlām realitātēm. No vienas puses, Web3 spēles janvārī sasniedza vairāk nekā 7 miljonus...

lasma 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin price prediction 90 days GMI

Bitcoin Washout Points To $180,000 In 90 Days, GMI Says

Jake Simmons 1 hour ago
Enquête blanchiment : 25 M€ en Bitcoin confisqués sur la plateforme Cryptomixer.

Bitcoin Just Entered Extreme Oversold Levels And Analysts Predict New ATH Targets

Sandra White 2 hours ago
Rusland voorspelt het Amerikaanse crypto plan: gaat Bitcoin naar $1.000.000 in 2026?

Rusland voorspelt het Amerikaanse crypto plan: gaat Bitcoin naar $1.000.000 in 2026?

Lars Diederiksen 3 hours ago

Premium Sponsors

Press Releases

  • 2026年に向けて注目されるアルトコイン投資先──ASTER、BNB、KASと新しい仮想通貨2銘柄

    ...

    8 minutes ago
  • ETHが2,810ドルまで急落、市場は次の方向性を模索

    イーサリアム...

    29 minutes ago
  • ETF資金流入で87,000ドルは底固めか

    ビットコイン...

    41 minutes ago
  • Maxi Doge FTR

    仮想通貨...

    49 minutes ago
  • ミームコイン注目:XRP上昇で注目の10倍ICO銘柄

    ico...

    52 minutes ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.