Bitcoin miners are facing a new phase of "surrender," which may indicate that prices have hit bottom

ChainCatcher news suggests that Bitcoin miners may be indicating a direction for a long-term rebound in BTC prices. Data shows that Bitcoin is exhibiting typical local bottom signals as miners are entering a new "surrender" phase. Analysis points out that the Bitcoin hash ribbon indicator is experiencing a triggering reversal.
The hash ribbon is a well-known leading indicator often used to predict BTC price reversals at local lows. When the 30-day hash rate moving average (MA) falls below the 60-day MA, it indicates that miners are experiencing "surrender"—"when the cost of Bitcoin mining is relatively too high, miners are forced to shut down their machines." This situation is relatively rare and often occurs before a long-term rise in BTC prices.

The last miner surrender period occurred in mid-October 2024, after which BTC prices broke through the historical high of $73,800 and soared to $108,000 in just two months.