The Bitcoin hash ribbons indicator tracked by Glassnode (which compares two iterations of Bitcoin's hashrate) is recovering from a months-long "capitulation" period. This period occurred during the recent period of relatively low hashrate, with the hash band showing a 30-day moving average below the 60-day moving average. The last capitulation phase ended in August 2023, after which BTC/USD nearly doubled by the end of the year after briefly falling to $25,000.
The data shows that last week the mining power of the Bitcoin network reached its highest level since the beginning of June, exceeding 690 EH/s.
Glassnode: Bitcoin miners are recovering from months of "capitulation"
2024-07-22 08:54:05
Glassnode tracking bitcoin hash band hash ribbons indicator comparisondesk3cryptocurrencydesktopCrypto News
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Glassnode：比特币矿工正从持续数月的“投降”期中复苏Next article：
Wemade副会长出售其全部股份
