Bitcoin miners’ earnings have shown a significant recovery with the Puell Multiple now at 0.8, suggesting an improving outlook for miners after earlier economic pressures.
Despite overall market challenges, Bitcoin's hashrate continues to rise as miners upgrade their equipment, indicating a commitment to the network despite lower earnings.
The Hash Ribbons Indicator reveals the moving averages of Bitcoin's hashrate nearing a crossing point, which may signal a bearish trend in the short term for miners.
The analysis of Bitcoin miner sentiment through earnings and hashrate trends provides insights into the potential future movements of Bitcoin's market price.
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