Mining Difficulty Ribbon
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
About this metric
What it measures
Mining Difficulty Ribbon compares 9D MA, 14D MA, 25D MA, 40D MA, 60D MA, 90D MA, 128D MA and 200D MA of the mining-difficulty series. Each line averages protocol difficulty, a dimensionless ratio relative to the reference level of 1; T denotes one trillion (10¹²).
How to read it
Short averages above longer ones indicate recent difficulty expansion; convergence or inversion indicates that recent growth has slowed or turned negative. The 9D MA reached its historical high on November 6, 2025, while the 200D MA peaked on March 23, 2026, illustrating how much later a long average can register a change.
Difficulty adjusts every 2,016 blocks, so the ribbon already lags changes in deployed hash power and the moving averages add delay. Hardware efficiency, energy costs and temporary shutdowns can change mining conditions independently of price; ribbon compression does not establish a market bottom, and early averages appear before full windows exist.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- On-chain Indicators
- Type
- Breakdown
- Data since
- 2009-01-03
- Latest data
- 2026-10-27
FAQ
Why do short and long difficulty averages cross?
Shorter averages respond more quickly to changes in protocol difficulty. When recent difficulty rises or falls relative to its longer-term average, the lines can cross; a crossing alone does not establish a price trend.
How does the Difficulty Ribbon differ from the Hash Ribbon?
This ribbon uses eight averages of difficulty, a parameter adjusted every 2,016 blocks. The Hash Ribbon uses averages of estimated hash rate, measured per second; the two follow related mining conditions but use different inputs and windows.
Does a compressed or inverted ribbon confirm miner capitulation?
It indicates recent difficulty is weak relative to longer averages. It does not identify which miners shut down or prove forced liquidation; miner revenue and hash-rate trends are needed for a fuller assessment.
