Bitcoin Miners Capitulate: Hash Ribbon Signals Imminent BTC Price Recovery

Bitcoin (BTC) miners are shutting down unprofitable operations, a classic sign of market capitulation. This miner exodus is now triggering the Hash Ribbons buy signal, a historically accurate on-chain metric that has preceded major Bitcoin price rebounds. The Hash Ribbon indicator flashes bullish when the 30-day moving average of Bitcoin's hash rate crosses above the 60-day average, signaling the end of miner distress. Current data shows this crossover is occurring, suggesting the worst of the miner sell-off may be over. Reduced selling pressure from miners, coupled with their need to cover operational costs, often creates a supply squeeze that fuels a significant BTC price rally. Analysts are watching this key metric closely, as past signals have aligned with the start of powerful bull runs in the cryptocurrency market.