One of longest mining capitulations nears end, signaling potential BTC price bottom

Hash Ribbon recovery and sub production pricing suggest the worst of the bitcoin drawdown may have passed. What to know : The Hash Ribbon is close to flashing a recovery signal after three months of miner stress, a pattern that has historically aligned with local or major bitcoin bottoms. BTC is currently trading below its average production cost for the first time since November 2022, a level often associated with deep value and late stage capitulation.(Coindesk)