CryptoQuant talks about signs of capitulation among Bitcoin miners. According to company analysts, yesterday was the largest volume of sales of their coins since the end of March - 1200#BTC($80 million).

An important note is that BTC is sold on the over-the-counter market, not on crypto exchanges. Therefore, they do not create pressure on the market. And at the same time they partially cover the demand of large buyers.

Let us recall that in mid-May the Hash Ribbons indicator gave a signal of capitulation for BTC miners. So the story of the capitulation of miners is no longer new. 

In addition to the surrender signal, this indicator also gives buy signals. In history, they have been false, but most often it was associated with “black swans” or manipulations. 

The last time the surrender signal from Hash Ribbons was at the end of July 2023, and the BUY signal was in mid-April 2023. With the BTC rate around $30,000. From the “capitulation” mark to the “buy” mark can be from 1 to several (2 or even 3) months. Therefore, it is quite possible that we will see a buy signal from the indicator by mid-summer. 

We have set an alert for the appearance of the BUY signal, we will inform you when it appears.

$BTC