Analysis: Bitcoin price expected to rebound after miners surrender and hashrate recovers

Analysts pointed out that the bitcoin price is expected to rebound only after the miners surrender and the network hashrate recovers. According to independent analyst Willy Woo, the key to the current decline in bitcoin prices is the exit of "weak holders", including inefficient miners running outdated hardware and high costs. Wu believes that with the restructuring of the miner industry and hardware upgrades, the price may stabilize and is expected to rise. However, the current capitulation process is longer than previous cycles, which may be due to the impact of rising profits. In addition, analysts pointed out that the recovery rate of bitcoin's hashrate is also much lower than that of the same period in history, indicating the challenges and opportunities in the market.