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Bitcoin miner capitulation due to end amid 1st difficulty increase since June

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cointelegraph.com

Bitcoin (BTC) miners have been capitulating for almost two months, but an end to the squeeze could already be here.That was the conclusion from Blockchain infrastructure and cryptocurrency mining firm Blockware as it published its latest Intelligence Newsletter on July 29.The most recent edition of the market research series highlighted changes in the mining ecosystem apt to switch up a trend in place since early June.Miners, judging by the hash ribbons metric, have been retiring for an “extended period of time,” Blockware says, and as of Aug.

1, hash ribbons have been signaling capitulation for 55 days.“The current miner capitulation began June 7th, 2022, and it has lasted a significant amount of time.

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