Bitcoin Hashrate Breaks 18-Month Uptrend: Signals Potential Miner Capitulation Amid Rising Costs

Bitcoin’s hashrate, a key measure of mining difficulty, has broken down from an 18-month uptrend, suggesting potential miner capitulation. The true hashrate recently fell to around 600 exahashes per second (EH/s). This breakdown might indicate that some mining firms are selling their BTC, as noted by Ki Young Ju, founder and CEO of CryptoQuant. He stated in a June 13 X post, “Bitcoin hash rate’s 18-month upward trend has broken, suggesting some miners are capitulating.” However, data shows that Bitcoin mining firms haven’t been selling significant amounts of Bitcoin despite the drop in hashrate. According to CryptoQuant, miner flows to

Source: CryptoIntelligence