Bitcoin Buy Signal Emerges as Miners Face Stress

Bitcoin enthusiasts, a significant buy signal has emerged from the network’s economic landscape. The Hash Ribbons indicator, a key on-chain metric, suggests potential accumulation opportunities for Bitcoin. This signal arises amidst growing miner stress due to factors like declining profitability and rising energy costs. Analysis reveals that this pressure can lead to a sell-off by less efficient miners, but it often precedes a strong recovery for the price.