VanEck reported that the Bitcoin network hashrate has decreased by about 4% (as of 12/15), and the miner capitulation signal may indicate that Bitcoin's price is nearing a temporary bottom.
According to VanEck's analysis, the phenomenon of miners leaving the market is often seen as a contrarian indicator of a bull market reversal, so this decrease in hashrate is viewed as a sign that prices may soon stabilize after a decline.
MAIN CONTENT
Bitcoin hashrate decreased by about 4% as of December 15.
VanEck calls this miner capitulation.
Contrarian indicator: BTC may be near a temporary bottom.
Hashrate decreased by 4% and miner capitulation signal
VanEck reported that the Bitcoin network hashrate decreased by about 4% as of December 15, linked to the phenomenon of miner capitulation.
Hashrate is a measure of computational power participating in securing the Bitcoin network, so when hashrate decreases, the market often interprets it as a portion of miners ceasing operations or withdrawing due to cost pressures and weakened profit margins. In the report, VanEck considers this development as a form of capitulation by miners.
The core data cited indicates a decrease of about 4% (as of December 15). The analysis does not provide additional detailed data such as absolute hashrate levels, pool distribution, or changes in miner revenue; the focus is on the significance of the downturn for the price cycle.
Why is it considered a near-term bottom indicator for Bitcoin?
Miner capitulation is often viewed as a contrarian indicator for a bull market reversal, implying that the price of Bitcoin may be near a temporary bottom.
VanEck believes that miner capitulation has often been seen by the market as a contrarian indicator: when selling pressure and the withdrawal of the mining group increase, the market may have absorbed most of the selling force and approached a supply exhaustion point. Therefore, this signal is interpreted as the possibility that Bitcoin is nearing a short-term bottom.
According to the original content, the main conclusion is: the decrease in hashrate may suggest Bitcoin is nearing a temporary bottom. The article does not specify a particular price level, does not provide a forecast for the reversal timing, and does not offer other confirmation conditions beyond the phenomenon of miner capitulation.
Source: https://tintucbitcoin.com/vaneck-tho-dao-dau-hang-bao-day-gan-ke/
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