Galaxy Research: Bitcoin Miners Enter Capitulation Phase, Mining Difficulty Drops Over 20% from Peak

Odaily reported that Galaxy Research posted on X platform, stating that Bitcoin miners have entered a "capitulation phase."

Galaxy Research pointed out that the current Bitcoin mining difficulty has dropped more than 20% from its all-time high, marking the largest difficulty retracement since 2021. It believes that a significant decline in mining difficulty typically indicates that some miners are exiting the network due to profitability pressures, and the market is currently undergoing a phase of hashrate adjustment.