Bitcoin Unbothered by Bank of England’s Super-Size Interest-Rate Hike

Date:

August 4, 2022

The bitcoin mining difficulty ribbon, comprising short and long-duration simple moving averages on the mining difficulty, has compressed for the first time in over a year, indicating miner capitulation. The previous bear markets, including the one seen in 2014, ended with the ribbon compression, data provided by analytics firm Glassnode show.

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