Based on this indicator, the crypto analyst suggested that a reversal might already be on the horizon for the flagship crypto. Bitcoin Hashrate Decline Is Slowing Coutts mentioned in an X (formerly Twitter) post that Bitcoin’s hash rate decline is slowing, which he noted usually precedes a bottom ad reversal of the bearish cross, which happened after the halving event.
He, however, warned that a bullish reversal still depends on a "stabilization in the downtrend.” Related Reading: Analyst Predicts 2,750% Celestia (TIA) Price Explosion To $188, Here’s The Roadmap The crypto analyst further noted that the percentage difference between the 30- and 90-day moving averages aligns with previous hash rate contractions and isn’t as severe as the post-2020 halving.
A slowdown in Bitcoin’s hash rate decline is significant because it suggests that miners’ capitulation may be ending soon. Crypto expert Willy Woo previously mentioned that the market will recover when "weak miners die, and hash rate recovers.” He further explained that inefficient miners will have to go into bankruptcy while other miners are forced to purchase more efficient hardware.
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