5h ago
Bitcoin Miner Capitulation Nears Conclusion as Hash Ribbon Recovery Hints at BTC Price Floor
A prolonged phase of Bitcoin miner stress appears to be approaching its conclusion, as the Hash Ribbon indicator moves toward a recovery crossover after roughly three months of capitulation. With BTC trading below an estimated production cost near $68,000 and key support forming around $60,000 to $69,000, conditions suggest a potential price floor, though further miner selling remains possible if profitability does not improve. The indicator’s behavior now resembles past cycles that preceded major rallies, raising the prospect of a post-capitulation rebound if price momentum aligns.