Kaspa sitting at mixed signals, but the tension is in the miners.Kaspa sitting at mixed signals, but the tension is in the miners. Hashrate down 5.4% vs 30d avg, Hash Ribbons flashing 30d < 60d (capitulation territory). Puell at 0.57 confirms miners under pressure. Meanwhile derivatives lean bullish: funding +0.54%, longs paying shorts, but OI at $43.1M is below average, low leverage, no froth. Price up 8.5% on 30d, 11.6% on 90d. Whales flat (+0.48%), exchange reserves baseline, NVT neutral. Setup: miner stress + cooled leverage + stable holders. Historically the kind of base that resolves up if hashrate stabilizes. $KAS #KAS #Kaspa