Interesting observations, BTC miners capitulate
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="720" height="338" />)
The price drop has made mining less profitable. As a result, most miners are forced to sell their reserves and fix losses. The hash-ribbons indicator and the production cost indicator show that the bitcoin surrender of miners is happening right before our eyes.
The hashrate has been declining since mid-June 2022.In the 2018 cycle, the surrender of miners lasted for 3 months.
It's only been 1 month now. At the time of the beginning of the surrender of miners, the bottom of bitcoin was usually always formed
4 comments