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On-ChainH
Hash Ribbons
A Bitcoin indicator comparing the 30-day and 60-day moving averages of hash rate. Crossovers signal miner capitulation (bearish) or recovery (bullish).
Example
“The Hash Ribbons indicator flashed a 'buy' signal when the 30-day hash rate MA crossed back above the 60-day MA, historically marking the end of miner capitulation and the start of a rally.”