VanEck: Bitcoin Miner Capitulation May Signal Bottom – U.Today
Despite Bitcoin’s gloomy price action and poor on-chain metrics, VanEck argues for cautious optimism because miners are capitulating. The Bitcoin network’s “hash rate”, the total computing power securing the network, dropped by 4% over the last 30 days. This is the sharpest decline since April 2024. The “breakeven price” for a standard mining rig (the...
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