CryptoQuant: Bitcoin miner capitulation indicator is close to the market bottom level after FTX crash
Odaily2024/07/03 17:35
By:Odaily
Odaily News The
Bitcoin miner capitulation indicator is close to the
market bottom level after the FTX crash. CryptoQuant data shows that daily miner revenue has fallen from $79 million earlier this year to $29 million, and computing power has fallen 7.7% since the halving. Bitcoin is currently trading at $60,300, down 13% in the past 30 days. CryptoQuant believes that as selling pressure intensifies, the market may rebound again to around $70,000. The significant decline in miners daily revenue and computing power indicates that miners are facing severe challenges. (Coindesk)
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