Bitcoin Miners Capitulate: What It Means for the Market
#bitcoin☀️ ($BTC ) miners are shutting down inefficient equipment and selling off reserves, signaling market capitulation, according to CryptoQuant experts.
Analysts highlight that daily profits for Bitcoin miners have plummeted from $79 million on March 6, 2024, to $29 million. The share of fees in revenue has dropped to 3.2%, the lowest since April 8, 2024, despite the pre-halving hype around the Runes protocol previously bringing in tens of millions of dollars.
