CryptoQuant: Bitcoin Miner Surrender Indicator Is Near Market Bottom Level After FTX Crash
2024-07-03 15:50:52
The Bitcoin Miner Surrender Indicator is near the bottom of the market after the FTX crash. CryptoQuant data shows that daily miner revenue has fallen to $29 million from $79 million earlier this year, representing a 7.7% decrease in hashrate since the halving. Bitcoin is currently trading at $60,300, down 13% in the past 30 days. CryptoQuant believes that the market may rebound again to near $70,000 as the selling pressure intensifies. The significant decline in daily miner revenue and hashrate indicates that miners are facing serious challenges.
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