The analytical platform CryptoQuant has reported receiving a signal indicating the end of Bitcoin miners’ capitulation based on the Hash Ribbons indicator. This metric has confirmed the end of a challenging period for mining market participants for the first time since the last halving, which could positively influence Bitcoin’s future dynamics.
This is reported by Finway
Current Situation in the Mining Market
According to experts, the sharp increase in hash rate to a record level of 638 EH/s indicates an active recovery of mining equipment operations. This, in turn, helps to reduce selling pressure in the market. However, analysts emphasize that even positive signals from the Hash Ribbons indicator do not guarantee an automatic increase in Bitcoin’s price.
“This is the first such signal after the halving, when the block reward was reduced to 3.125 BTC, making it an important and positive signal for the market,” the statement said.
Price Dynamics and Previous Trends
Recall that in February 2025, CryptoQuant experts recorded miners’ capitulation, after which a historical increase in the price of the first cryptocurrency was observed. Since then, from February to April 2025, the price of Bitcoin decreased by approximately 30%, but at the time of publication, it had regained its lost positions.
BTC/USDT rate on Binance exchange. Source: TradingView.