Bitcoin Mining Hash Ribbons As A Market Indicator

Bitcoin Mining Hash Ribbons As A Market Indicator
фото показано с : bitcoinmagazine.com

2022-3-26 04:30

Analyzing the changes in average hash rate to measure miner capitulation in the bitcoin market can be a market indicator for miner capitulation.

The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

In today’s analysis we cover the dynamics in the mining industry, with a particular focus on hash ribbons as a market indicator. We have covered the hash ribbons market indicator multiple times in previous daily issues, in particular on August 10, titled “One of The Biggest Indicators In Bitcoin Flashes,” before bitcoin rallied 50% over the following three months.

Hash ribbons take the 30-day and 60-day moving average of the Bitcoin hash rate, which is used to determine when sufficient miner capitulation has occurred. 

Bitcoin hash ribbon "buy" signal indicated in red.

Hash ribbons serve as such an effective and historically accurate buy indicator for bitcoin because it uses the changes in bitcoin hash rate to measure miner capitulation in the bitcoin market.

During periods when mining operations are turning off their rigs, it shows that it is uneconomical to mine. Hash rate declines, blocks are mined slower than the 10-minute block target, and eventually difficulty will adjust downwards to encourage these miners to plug back in.

Average Bitcoin hash rate and monthly growth Bitcoin mining difficulty adjusted downwards two times in a row for the first time since summer of 2021

As of the two most recent difficulty epochs, the short-term trend has been lower hash rate. Yet if we are in a secular trend of increasing hash rate, expect mining-related equities and bitcoin mining machines themselves to likely underperform bitcoin the asset during times when hash rate rises faster than the price of bitcoin. This is due to the inelastic supply issuance of the asset in an increasingly competitive global mining arms race. 

origin »

Bitcoin price in Telegram @btc_price_every_hour

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market bitcoin miner capitulation indicator hash measure

market bitcoin → Результатов: 126


Bitcoin Indicator Falls Back To Post-Bear Market Levels: Investors Approach A Key Decision Point

Bitcoin is trading below the $90,000 level once again, as the market continues to drift through a phase defined by indecision, rising caution, and growing fear. After repeated failures to reclaim this psychological threshold, price action has started to reflect a lack of conviction on both sides, with buyers hesitating to step in aggressively and sellers pressing every rebound attempt.

2026-1-24 08:00


Is Bitcoin Really In A Bear Market? Why January 20 Matters

Bitcoin is down 36% from its recent peak, and the “bear market” label is already circulating across crypto X. But in a thread on Sunday, trader Cristian Chifoi argues that calling a regime shift on the drawdown alone misses the more tradable signal: what happens after the first meaningful rebound, and how price behaves around a tight set of time-based “seasonality windows.

2026-1-20 08:00


Wall Street Analyst Is Still Bullish On Bitcoin, Predicts Price Recovery

As the market remains divided on Bitcoin’s (BTC) near-term direction, one Wall Street analyst is standing firm in his bullish outlook. He predicts that Bitcoin could soon enter a price discovery, underscoring its value beyond being a payment currency to a market leader and one of the best-performing assets that could eventually reach gold’s market capitalization.

2026-1-10 17:30


Фото:

Bitcoin and S&P 500 Enter Late Bull Phase – Markets Stay Risk-On Ahead Of Q4 Earnings

Bitcoin continues to struggle to break decisively above the $110,000 mark following the October 10 market crash, as volatility and uncertainty dominate sentiment. The market now stands at a critical crossroads — one that could define whether the next phase brings a deep correction or sets the stage for a massive recovery. Related Reading: Tether […]

2025-10-24 05:00