The difficulty in BTC struck ATH as a metric miner’s metric capitulation, indicating a local bottom
Poverty in Bitcoin (BTC) struck a full time 114.7 trillion (T) following a 5.6% upward adjustment over the weekend, according to Coinwarz.
It matches the hash ribbon metric which signed a miner’s capitulation. The hash ribbon, is a market indicator, which indicates a local bottom for Bitcoin (BTC) and often develops when miners gather – when mining costs exceed profitability.
According to Glassnode data, Miner’s capitulation began in early February. Bitcoin drops more than 4% month-to-date. Historically, when this metric signal capitulation, it marks local under price.
If this pattern holds, Under bitcoin May be around $ 91,000. The final capitulation signal took place in October 2024, before the BTC advanced 50%.
Increasing difficulty is due to increased bitcoin hash rate, which struck the All times high In Feb.
As the difficulty increases, mining becomes more competitive, putting additional pressure on miners. The January Working Data It reflects, along with Riot Platforms (Riot) that are the only major public miners to report a monthly increase in production.
