Just noticed the hash ribbons indicator is flashing again on Bitcoin's chart. For those not familiar, hash ribbons tend to mark some pretty reliable cyclical bottoms historically, and when they align like this it usually catches traders' attention.

Basically what's happening is the mining difficulty is showing signs that often precede a reversal. The hash ribbons specifically track the relationship between short and long-term mining metrics, and when they cross in certain patterns, it's been a decent signal that we're near a local bottom.

Not saying this guarantees a pump tomorrow or anything, but the hash ribbons setup has been right more often than not when it comes to spotting cycle lows. Worth keeping an eye on if you're looking at longer timeframes.

Obviously this is just one indicator among many, but the hash ribbons giving a signal right now is definitely something worth noting. Could be an interesting entry point to watch for the next few weeks.