According to BlockBeats, CryptoQuant analyst Darkfost has revealed that the latest data from the Hash Ribbons indicator shows a buy signal for Bitcoin. This indicator assesses the stress levels within the miner ecosystem by comparing the 30-day and 60-day moving averages of hash power.
The analysis highlights that Bitcoin's hash power has recently reached an all-time high, putting short-term pressure on miners. This pressure may compel miners to sell Bitcoin to sustain operations, which often creates long-term buying opportunities.
