BTC Hash Ribbon Buy Signal Flashes for First Time Since Halving
CryptoNewsTerminal Staff19 Aug, 2024
BTC Hash Ribbon Buy Signal Flashes for First Time Since Halving
On-chain analytics firm CryptoQuant has reported that a buy signal has appeared on the "Hash Ribbons," an indicator based on the revenue activity of Bitcoin miners. This is the first time such a signal has occurred since the halving, the firm noted, adding that such signals have historically preceded miner capitulation and led to an increase in the BTC price. According to the data, the last Hash Ribbons buy signal was in July 2023. ```
