Bitcoin Hash Ribbons Flash a Rare Buy Signal

[lingriiddd]

Bitcoin Hash Ribbons. Source: Capriole Investments

Bitcoin’s Hash Ribbons indicator has flashed a fresh “buy” signal, suggesting miner capitulation may be ending. The signal appears when the 30-day moving average of Bitcoin’s hashrate drops below the 60-day average and then begins to recover — a pattern that has historically aligned with long-term price bottoms and strong rallies, according to Capriole Investments.

Analysts at On-Chain Mind called the current signal one of the largest on record, noting that miner recovery often marks the end of forced selling. The last comparable signal in July 2025 preceded a 25% BTC rally to a new all-time high, reinforcing the view that miner behavior is again tilting the odds in favor of buyers.

[tradelikepro]

miners finally chilling usually means the worst selling is done, at least historically