Bitcoin

when

April

Coin

<ul class="news-points">
 <li>The Bitcoin mining industry faces capitulation, indicating a potential local price bottom for Bitcoin.</li>
 <li>Bitcoin’s hash rate fell 7.7% post-halving, hitting a four-month low and causing miner financial stress.</li>
 <li>Miners are selling BTC reserves, leading to increased outflows and contributing to Bitcoin’s recent price decline.</li>
</ul>
Recent data from CryptoQuant suggests the Bitcoin mining industry is experiencing capitulation, a potential indicator that Bitcoin’s price may be nearing a local bottom. The market intelligence platform analyzed metrics related to miners who secure the Bitcoin network in exchange for newly issued BTC.
One key sign of capitulation is the decline in Bitcoin’s hash rate, which represents the total processing power defending the network. The <a href="https://coinedition.com/bitcoin-cash-network-sees-record-hash-rate-spike-but-price-dips/" rel="noopener noreferrer nofollow">hash rate</a> dropped 7.7% to 576 exahashes per second (EH/s), the lowest level in the previous four months, after peaking on April 27 at 623 EH/s.
Historically, such a drawdown in hash rate has correlated with conditions where Bitcoin’s price bottoms out. For instance, a similar 7.7% hash rate decline occurred in December 2022, when Bitcoin’s price hit $16,000 before increasing by over 300% in the following 1…
The post <a href="https://coinedition.com/the-aftermath-of-bitcoin-halving-miners-struggle-and-the-road-to-recovery/" rel="noopener noreferrer nofollow">The Aftermath of Bitcoin Halving: Miners’ Struggle and the Road to Recovery</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

The Aftermath of Bitcoin Halving: Miners’ Struggle and the Road to Recovery

Coin Edition

2024년 7월 4일에 게재된 다른 기사

Cryptocurrency Wrapped eETH Decreases More Than 5% Within 24 hours

Notcoin Partners with Helika to Launch $50M Gaming Accelerator on Telegram

Vitalik Buterin’s new vision: Is a ‘faster’ Ethereum on the horizon?

Bitcoin vs Ethereum: A Battle of Titans for Blockchain Revenues

El Salvador continues to purchase 1 BTC a day despite uncertain Bitcoin markets

Bitcoin price loses its 200-day trendline for first time in 10 months

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!