Bitcoin’s miner stress eases – Will history repeat with a BTC bull run?

Key Points

1. Bitcoin's Hash Ribbons indicator suggests potential accumulation zone before recovery, with BTC trading at $116,228, down 1.84% in 24 hours.

2. BTC holds within bullish structure despite sharp pullback from $122,000 resistance, trading near $112,000 with Stochastic RSI below 20.

3. SOPR Ratio surged to 3.82, indicating long-term holders may be cashing out, resembling previous distribution phases before local peaks.

4. Bitcoin’s Stock-to-Flow (S2F) Ratio dropped by 77.78% to 707.45K, signaling weakened scarcity dynamics and raising questions about long-term valuation.

5. OI-Weighted Funding Rate at +0.0151% shows bullish sentiment, but overly confident long positions remain vulnerable to liquidations.

6. End of Hash Ribbons signal often precedes price recoveries, with current technical support holding firm.