CryptoQuant: Bitcoin miner capitulation indicator is close to the market bottom level after FTX crash

Odaily News The Bitcoin miner capitulation indicator is close to the market bottom level after the FTX crash. CryptoQuant data shows that daily miner revenue has fallen from $79 million earlier this year to $29 million, and computing power has fallen 7.7% since the halving. Bitcoin is currently trading at $60,300, down 13% in the past 30 days. CryptoQuant believes that as selling pressure intensifies, the market may rebound again to around $70,000. The significant decline in miners' daily revenue and computing power indicates that miners are facing severe challenges. (Coindesk)