Capriole’s Bitcoin Yardstick hits record low — BTC labeled ‘deep value’ as hash rate ~1 ZH/s and miner selling collapses
first published 2026-03-24T10:32:09Z
Charles Edwards says his Bitcoin Yardstick (market cap / hash rate, 2-year normalized) fell to a record low of 0.35 in February and is currently 0.40, levels he calls “cheap.” Hash rate remains near historical highs (~1 ZH/s) even though BTC is over 40% below its October 2025 peak, and miner selling has shown a “measured collapse,” a pattern Edwards views as historically bullish for price.
AI Analysis
The Yardstick metric reached a record low (0.35 in February, 0.40 now), indicating ‘deep value’ per Charles Edwards; hash rate is near ~1 ZH/s despite BTC being >40% below its October 2025 peak; miner selling has materially collapsed. These concrete on-chain datapoints reduce immediate sell pressure and are cited as historically bullish, supporting a positive-but-not-extreme market view.
Expected Investor Sentiment: Bullish
Potential Market Impact: Significant
