Exchange Exodus and Miner Capitulation

Mining economics, news & insights.

As Bitcoin's price climbs back above the 200-day simple moving average (SMA), the network hashrate has pulled back after revisiting the 700 EH/s mark. With mining difficulty hovering near all-time highs and hashprice remaining below $50/PH/day, miners have entered a new capitulation phase. Could the low circulating supply of BTC, driven by the ongoing e…