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#Bitcoin Hash Ribbons: miner Pressure Watch 📉
📝The Hash Ribbons chart tracks Bitcoin's 30-day (green) and 60-day (red) hash rate SMAs. The chart shows robust network growth from mid-2022 to late 2025
📍 Currently, near 2026, both SMAs are tightly intertwined around 1,000,000,000.00. No clear miner capitulation (30 SMA < 60 SMA) is visible, but hash rate growth has stabilized.
💡This convergence suggests potential stress for miners post-expansion. A decisive cross-down, where the 30-day SMA falls below the 60-day SMA, historically signals prime accumulation zones.