🚀 Bitcoin Miners Catch a Break! 🚀
- The Bitcoin (BTC) Hash Ribbons indicator, which uses 30-day and 60-day moving averages to gauge miner stress, has signaled the end of miner capitulation. Miners are now upgrading their gear and re-entering the market.
- This often aligns with price bottoms, offering savvy investors a golden opportunity to "buy the dip."
- On Aug. 1, Bitcoin mining difficulty hit an all-time high of 90.66 trillion but has since eased to 86.8 trillion.
- Despite the challenges, miners are diversifying into AI and high-powered computing services. TeraWulf is leading the charge with a new facility at Lake Mariner.
Stay tuned for more crypto capers!