Bitcoin's first rally since the halving of its hash rate
2024-08-21 05:04:57
According to the CryptoQuant Hash Ribbons indicator, the Hash Ribbons indicator has just signaled the end of miners' capitulation, while the hash rate has reached a new peak of 638 exahashes per second (EH/s), marking the first rally since the Bitcoin halving.
CryptoQuant explains: "While the indicator is not designed to pinpoint price bottoms, it usually signals a reduction in miner selling pressure before prices rise."
CryptoQuant explains: "While the indicator is not designed to pinpoint price bottoms, it usually signals a reduction in miner selling pressure before prices rise."
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