BTC Hash Ribbons Buy Signal Flashes Amid Miner Energy Crunch, Geopolitical Risks

Bitcoin’s Hash Ribbons indicator flashed a buy signal on April 29, 2026, crossing 30-day over 60-day hashrate moving averages to signal potential end of miner capitulation. However, analysts warn of unreliability due to energy shocks, geopolitical chaos, weather events, and post-halving block rewards now at 3.125 BTC per block. With mining costs and difficulty squeezing marginal operators, past signals proved misleading; BTC traded around $77,152 as traders eye macro risks before committing.