Indeed, the Bitcoin price has been on a hot streak in recent weeks, returning to its past heights most investors have become accustomed to. However, the past week was a somewhat quiet one for the premier cryptocurrency, as it was for most of the digital asset market.
Interestingly, the latest on-chain insights suggest that the crypto market, specifically the Bitcoin market, might not be inactive for too long.
BTC Price Momentum Shifts To Positive – Impact On Price?
In a recent post on the X platform, popular crypto pundit Ali Martinez revealed that Bitcoin miner capitulation has seemingly come to an end. This on-chain observation is based on a shift in the Glassnode Hash Ribbon indicator, which measures BTC’s hash rate.
Typically, the Hash Ribbon features two moving averages; including the short-term (30-day) and long-term (60-day) hash rate. A cross of the short-term moving average below the long-term moving average implies miner capitulation, which is characterized
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