Bitcoin hash rate sees sharpest drop since April 2024, indicating possible miner capitulation
VanEck analysts have observed the steepest monthly decline in Bitcoin’s hash rate since April 2024, which may indicate miner capitulation — a phase when some miners stop mining due to reduced profitability.
Source VanEck
Historically, after such drastic drops in hash rate, Bitcoin’s price rebounded within the next 90 days in 65% of cases, suggesting a potential recovery in network activity.
This implies that the current downturn might be temporary, with miners returning to operations, which could positively impact Bitcoin’s network stability and security in the near future.
