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Hash Ribbons Signal Ends – Here’s What It Could Mean for Bitcoin’s Next Move

2025-07-25 11:08:50

Hash Ribbons Signal Ends – Here’s What It Could Mean for Bitcoin’s Next Move

Main Idea

The Hash Ribbons signal, indicating miner stress, has ended as Bitcoin's hash rate recovers, despite a recent price drop and initial mining challenges due to a heat wave.

Key Points

1. The Hash Ribbons signal, which started on June 25, has completed, indicating reduced miner stress as the 30-day moving average of Bitcoin's hash rate climbed back above the 60-day average.

2. Bitcoin's price dropped 3% over the past day, though the hash rate recovery suggests potential stabilization in mining activity.

3. Bitcoin's network hash rate hit a record 1.0322 zettahashes per second (ZH/s) on July 15, rebounding from a drop to 658 EH/s on June 24 due to a heat wave affecting US power grids and mining operations.

4. The heat wave forced many miners, especially in heat-sensitive areas, to scale back operations, contributing to the earlier decline in hash rate.

Description

The Hash Ribbons signal, which began flashing on June 25, has now completed. This points to a potential shift in Bitcoin’s mining and price cycle as the leading crypto asset saw a steep decline of 3% over the past day. Hash Ribbons End After Miner Stress According to the latest analysis shared by CryptoQuant, the indicator triggers when the 30-day moving average of Bitcoin’s hash rate falls below the 60-day average, and signifies stress among miners who may struggle to cover operational costs. T...

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