Galaxy Research: Bitcoin Miners Enter Capitulation Phase, Mining Difficulty Drops Over 20% from Peak
2026-06-21 05:32
Odaily reports that Galaxy Research posted on X platform, stating that Bitcoin miners have entered a "capitulation phase."
Galaxy Research points out that the current Bitcoin mining difficulty has dropped over 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 pressure, and the market is in a phase of hashrate adjustment.
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