Since mid-October, Bitcoin miners’ revenue fell from 562 BTC to 502 BTC, reflecting an 11% decrease. Coupled with this is the mining difficulty hitting a record high of 159 trillion, which is leading to higher operational costs.
Currently, Bitcoin is trading around 30% below its peak at 126,000 USD. This market turbulence has created unrealized losses of about 12% for short-term holders, leading to concerns about potential miner capitulation as net positions turn negative.
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