$BTC A recent X post highlights an important observation in Bitcoin’s mining landscape, mainly the Hash Ribbon indicator that shows an 8% increase in miner activity since the last difficulty drop. 

While the chart suggests a recovery from miner capitulation, it hasn’t yet reached the >15% threshold typically associated with a strong bullish trend confirmation for Bitcoin (BTC). The Hash Ribbon chart shows historical patterns where miner capitulation (red bars) often precedes price bottoms, with a recent 5-month recovery period implying Bitcoin’s price may be stabilizing around its current price at approximately $103k. 💫