What insights do on-chain metrics like the Hash Ribbon provide about miner behavior and supply pressure in the Bitcoin network?
Why is this the correct answer?
This is correct because the Hash Ribbon metric measures changes in the Bitcoin network’s mining hash rate to detect when miners shut off their machines (capitulation) and sell coins, which increases supply pressure on the market. Beginners should know that on-chain data can reveal miner behavior and potential price impacts.
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