hash ribbons capitulation signal fired on BTC march 18. 100% hit rate marking cycle bottoms since 2012. MARA just sold 15,133 BTC at $72,689 to retire debt on an $80,900 cost basis. $236m realized loss. riot dumping 4,778 BTC in Q1. bitfarms liquidating all 1,827 BTC. every major miner converting facilities to AI data centers. this is the part that breaks the pattern. previous capitulations were temporary shutdowns. miners came back when price recovered. this time the hardware is being replaced with GPUs. t ...