Bitcoin Miner Capitulation Metrics and Possible Market Bottom for BTC

Friday, 5 July 2024, 21:30

Market intelligence firm CryptoQuant indicates that Bitcoin miner capitulation metrics are nearing levels seen during the market bottom post-FTX crash in late 2022, hinting at a potential floor for BTC value. Miner capitulation, where miners scale back operations or liquidate holdings, may be a critical factor in BTC's price movement. This development comes amidst dwindling profits for miners due to the recent sell-off, raising questions about the future direction of Bitcoin and the broader crypto market.

TradingView — Bitcoin Miner Capitulation Metrics and Possible Market Bottom for BTC

Bitcoin Miner Capitulation Metrics

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Bitcoin Miner Capitulation Metrics

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