Bitcoin's hash rate rebounds for the first time since halving

According to the Hash Ribbons indicator by CryptoQuant, the Hash Ribbons just issued a signal indicating the end of miner capitulation. Meanwhile, the hash rate reached a new peak of 638 exahash (EH/s) per second, which is the first rebound since Bitcoin halved. CryptoQuant explained: "Although this indicator is not intended to accurately point out price bottoms, it usually issues signals of reduced selling pressure from miners before prices rise."