Odaily Planet Daily News: The Bitcoin hash ribbons indicator tracked by Glassnode (which compares two iterations of Bitcoin computing power) is recovering from a few months of "capitulation" period. This period occurs when the computing power is relatively low in the near future, and the hash ribbon shows that the 30-day moving average is lower than the 60-day moving average. The last capitulation phase ended in August 2023, after which BTC/USD almost doubled by the end of the year after a brief drop to $25,000. Data shows that last week the Bitcoin network mining computing power reached its highest level since early June, exceeding 690 EH/s. (Cointelegraph)