"Miner capitulation" is a bullish signal? VanEck: Bitcoin hash rate plummets, bullish momentum is building upAsset management firm VanEck's latest report indicates that recent Bitcoin mining activity has significantly cooled down. Based on historical experience, this is likely a sign that Bitcoin is about to enter a bullish phase again.
In a research report released on Monday, VanEck mentioned that, since 2014, when the network hashrate shows signs of contraction, there is a 65% probability that the investment returns over the next 90 days will be positive; conversely, when the hashrate continues to grow, the probability of positive returns drops to only 54%.
VanEck analysts pointed out that empirical data shows that "a decline in hashrate may actually be a bullish signal for long-term holders," and described it as a contrarian indicator, often accompanied by "miner capitulation"—that is, when the price drops and costs rise, squeezing profit margins, weaker miners are forced to shut down and exit the market, or even sell Bitcoin to survive.
Historically,
区块客·2025-12-24 09:31