Bitcoin miners are facing a new "surrender" stage, which may indicate that the market is nearing its bottom

Odaily Planet Daily reports that Bitcoin miners may be indicating a long-term rebound in BTC prices. Data shows that Bitcoin is showing typical signs of a local bottom, as miners are facing a new "surrender" phase. Analysis points out that the hash ribbon indicator of Bitcoin is undergoing a "triggered" reversal. The hash ribbon is a well-known leading indicator, usually used to predict the reversal of BTC prices at local lows.

When the 30-day moving average (MA) power falls below the 60-day average, it means that miners are experiencing "surrender"—"when the cost of mining bitcoin becomes relatively high, miners are forced to shut down their machines." This situation is rare and often occurs before long-term increases in BTC prices. The last miner surrender period occurred in mid-October 2024, after which BTC price broke through from its historical high point of $73,800 and soared to $108,000 within just two months.