The post Bitcoin: Why THIS Hash Ribbon data hints at a probable BTC rally appeared on BitcoinEthereumNews.com.

Hash Ribbon indicated improved miner health, signaling potential price rallies for Bitcoin. Bitcoin’s price could surpass $100,000 as miner conditions stabilize and recovery begins. Bitcoin [BTC] miners are signaling a market shift, as the Hash Ribbon indicator suggests the end of capitulation. Historically, this has preceded major Bitcoin price moves, marking a transition from miner stress to recovery. The 30-day and 60-day Hash Rate Moving Averages are converging, sparking speculation of a significant rally. With BTC near $100,000 and approaching key resistance, miners could drive the next price move. Hash Ribbon indicator and its historical significance The Hash Ribbon indicator assesses Bitcoin miners’ health by analyzing the 30-day and 60-day Moving Averages (MA) of the network’s hash rate.  When the 30-day MA drops below the 60-day MA, it signals miner capitulation—a period when miners face financial stress and shut off equipment.  Conversely, recovery occurs when the 30-day average reclaims the 60-day, historically indicating improved miner conditions and potential price rallies. Source: Bitcoin Magazine Data reveals that key recovery phases in 2021 and 2023 followed miner capitulations, coinciding with significant Bitcoin price increases. For instance, the early 2021 recovery aligned with Bitcoin’s surge to $64,000, while the 2023 recovery marked its climb past $30,000. Current miner trends and implications BTC’s mining activity shows signs of a pivotal shift as the Hash Ribbon indicator approaches a recovery signal. The data highlights the 30-day MA of the hash rate converging with the 60-day average. This pattern is historically tied to the end of miner capitulation. It suggests that miners, who have faced profitability challenges amid rising network difficulty and costs, are regaining stability. The improving miner conditions could trigger a recovery phase, historically associated with upward momentum in Bitcoin’s price. With the network hash rate near all-time highs and Bitcoin trading close to…

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Filed under: News - @ February 10, 2025 11:25 am