Bitcoin Hash Ribbon Recovers, Suggesting Miner Stress Is Easing
Analyst Sean Hagan says Bitcoin's hash ribbon indicator has flipped, a signal tied to miner health. He cites a historical 72% edge and easing miner stress as signs a market bottom could be near. He also questions whether miners leaving the network by choice could distort the signal.
Why it matters
- The hash ribbon signal has flipped, which some traders read as a possible bottom in Bitcoin.
- The analysis cites a historical 72% edge, which may support a bullish view for traders.
- Questions about voluntary miner exits mean the signal may be less reliable than it looks.
What to watch next
Watch whether miner stress keeps easing and whether future miner selling appears voluntary or forced.
