CryptoQuant CEO Ki Young Ji said that despite a drop in Bitcoin mining revenues since the halving, Bitcoin miners haven’t shown any signs of capitulation.to X, CryptoQuant CEO Ki Young Ju said that following a drop in revenue to levels post having, Bitcoin miners now face two options, capitulation or await growth in the price of Bitcoin to cover their costs.
“Miners had a brief reprieve following the halving as bitcoin’s price rose, but their profits are now being seriously crunched post-halving now that the spot BTC price is moving against them,”“Miner capitulation risk is on the rise, with profits as squeezed as they are.
The price of Bitcoin is currently sitting at $60,400, down 18% from its March 14 all-time high of $73,700 per TradingView data. Similarly, the second largest cryptocurrency, Ether , is also down 26% from its yearly high of $4,070 on March 12.
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