Summer sparks Bitcoin miner capitulation: a recurrent seasonal trend

By CryptoSlate July 18, 2023 In Bitcoin, Cryptocurrencies, Mining

Quick Take The Hash Ribbon, a market indicator defined by Glassnode, operates on the assumption that Bitcoin tends to bottom out when miners capitulate, which happens when the cost of mining Bitcoin exceeds the potential return. The Hash Ribbon historically signals the end of the miner capitulation phase when the 30-day moving average (MA) of […]

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