Bitcoin Hash Ribbon Signal Flipped After 61 Days, Miner Capitulation Peaks

The Bitcoin Hash Ribbon technical indicator flipped on August 26, marking 61 consecutive days of recovery. Historically, this signal has predicted higher Bitcoin prices one year later in six of seven instances, giving the pattern about a 72% success rate. Sean Hagan analyzes the signal's history, noting that 15 of 231 past signals missed their mark, including April 2021. While the 30-day hash rate has risen about 13% from the July lows, Grace Remington questions whether miners leaving voluntarily for AI contracts still makes the signal reliable, as miners departed for roughly $100 billion in AI deals this cycle.