As Bitcoin experiences yet another dramatic period following the recent halving, the Glassnode Hash Ribbon indicator has emerged as a crucial tool in discerning market bottoms by tracking miner behaviors. Essentially, this metric evaluates the 30-day and 60-day moving averages of the Bitcoin hash rate, identifying those pivotal moments when miners fold under financial pressures, signaling capitulation. Currently, with the hash rate dropping significantly—a phenomenon causing fewer active miners and sparking the largest difficulty drop since the FTX collapse—the big question looms: Are these shifts pointing towards an imminent market bottom, perfectly setting the stage for a potential new bull run?
This insight is only available for CryptoSlate Alpha members. CryptoSlate Alpha is a web3 membership built to empower you with cutting-edge insights and knowledge, built in partnership with Access Protocol.
👋 Hey, connecting to CryptoSlate Alpha requires authentication using Access Protocol. CryptoSlate is a launch partner of Access Protocol and we are also invested in the project through a grant we received. For more information, see our terms page.
To access CryptoSlate Alpha, you will need
1. Solana Wallet
Connect a Solana self-custody wallet (Phantom, Solflare or Torus).
2. Stake ACS
Stake 20k ACS (native token of Access Protocol) to the CryptoSlate pool.
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
Glassnode 
