BTC Hash Ribbon Signal Flipped: Bitcoin Miners Show the Bottom Might Be In
By Patrick Green
AI summary of the source article
Bitcoin's hash ribbon recovered on August 26 and has held for 61 days, while the 30-day hash rate rose 13% from July to roughly 1.1 ZH. Historically, Bitcoin was higher one year later in six of seven recoveries.
Why it matters
The 30-day hash rate rise to roughly 1.1 ZH "says the worst of the miner stress is behind us."
Key facts
- The Bitcoin hash ribbon recovered on August 26 and held for 61 days.
- The 30-day hash rate stands at roughly 1.1 ZH, up 13% from July.
- Historically, Bitcoin was higher one year later in six of seven counted hash ribbon recoveries.
Source excerpt · Bitcoin Magazine
▶ Bitcoin Magazine BTC Hash Ribbon Signal Flipped: Bitcoin Miners Show the Bottom Might Be In Sean Hagan breaks down the hash ribbon recovery, historical 72% edge, and miner stress easing, while questioning if voluntary miner exits distort the signal. This post BTC Hash Ribbon Signal Flipped: Bitcoin Miners Show the Bottom Might Be In first appeared on Bitcoin Magazine and is written by Patrick Gr…