On-chain data suggests Bitcoin miner capitulation may have ended as the Hash Ribbons indicator has printed a fresh buy signal. Bitcoin Hash Ribbons Have Seen A Bullish Crossover As highlighted by Capriole Investments founder Charles Edwards in a new X post, the Hash Ribbons has just given a signal for Bitcoin. The “Hash Ribbons” here refers to a metric created by Edwards that basically provides a representation of the miners’ situation. Related Reading: PEPE Explodes 62%, But Analyst Warns Of Breakdown Retest It does so by comparing two moving averages (MAs) of the “Hashrate,” an indicator that measures the total amount of computing power that the miners have connected to the network
source: https://www.newsbtc.com/bitcoin-news/bitcoin-miner-capitulation-ends-hash-ribbons-buy/