Bitcoin Bottom Is Near as Miners Capitulating Near FTX Implosion Level: CryptoQuant

Bitcoin miner capitulation metrics are approaching the same level as the market bottom following the FTX crash in late 2022.

Bitcoin is currently trading at $60,300 after sliding by 3% on Wednesday. This level has acted as a critical support since April, with bitcoin bouncing three times from this region before heading back towards the $70,000 mark.Two signs of miner capitulation are dwindling hashrate and mining revenue by hash , both of which are down significantly this month, with hash rate plunging by 7.7% since the halving at hashprice nearing all-time lows.

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