Hash rate momentum indicator - 30-day vs 60-day moving average ratio
Hash ribbons compare the 30-day and 60-day moving averages of Bitcoin hash rate to detect miner capitulation and recovery phases. When the 30-day MA crosses below the 60-day MA, miners are capitulating (shutting off machines). When it crosses back above, recovery begins. PreReason calculates hash ribbons daily with trend direction, momentum scoring, and percentile rankings.
Why: Compares 30d and 60d hash rate moving averages. When 30d crosses below 60d, miners are capitulating; a cross back above marks their recovery.
Category: calculated. Derived metrics combine multiple data sources into single indicators. These are computed server-side so you get the figure already worked out.
Source: PreReason's calculation from mempool.space's daily hash rate (the ratio of its 30 day and 60 day averages). Updated: Recomputed hourly; its input daily.
API: GET /api/metrics/hash-ribbon
Read more: How Hash Ribbons Work
Used in briefings: BTC Context, Correlation Check, Grid Stress, BTC Momentum, On-Chain Health, Miner Survival Index, Full Context, Factor Attribution, Regime Check
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