Glassnode: Bitcoin miners are recovering from months-long "capitulation" period

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ODAILY
07-22
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Odaily Odaily News: The Bitcoin hash ribbons indicator tracked by Glassnode (which compares two iterations of Bitcoin computing power) is recovering from a period of "capitulation" of several months. This period occurs when the computing power is relatively low in the near term, and the hash ribbon shows that the 30-day moving average is lower than the 60-day moving average. The last capitulation phase ended in August 2023, after which BTC/USD almost doubled by the end of the year after a brief drop to $25,000. Data shows that last week the Bitcoin network mining computing power reached its highest level since early June, exceeding 690 EH/s. (Cointelegraph)

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