Bitcoin: Why THIS Hash Ribbon data hints at a probable BTC rally – BitRss

• 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 ($97,828.64)] 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.