Bitcoin Poised for Significant Rally as Key Buy Signal Emerges for the First Time in a Year

Bitcoin is expected to experience a significant price increase as it exits a recent miner capitulation phase, according to the hash ribbons indicator.

This indicator, which tracks moving averages of hashrate, has now signaled a "buy" for the first time since mid-May, suggesting that miners are no longer struggling.

This signal has historically been associated with major price gains.

On July 23, the indicator confirmed the end of a two-month capitulation period.

Although Bitcoin's price is currently in flux, the market anticipates a substantial rally.

Concerns remain due to ongoing payouts from the Mt. Gox exchange and the market's reaction to U.S. spot Ether ETFs.

Readers are reminded to conduct their own research, as this information is not investment advice.

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