Bitcoin (BTC) miners appear to have been capitulating for nearly two months, but an end to the squeeze may already be here.
Miners, based on the hash ribbons metric, have been retiring for an “extended period of time,” Blockware says, and on August 1, hash ribbons have been signaling capitulation for 55 days.
The company wrote:“The current miner capitulation began June 7th, 2022, and it has lasted a significant amount of time.
Based on Blockware, capitulation, as described by hash ribbons, needs to be over before the summer.
Mainly, mining difficulty is due for its first increase in two months on August 4 after three consecutive downward adjustments.
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