📢 Attention crypto enthusiasts! According to CryptoQuant, Bitcoin miners' capitulation metrics are approaching the same level as the market bottom following the FTX collapse in late 2022, which could indicate a possible bottom for BTC. 📉

- Miner capitulation is a process where some miners reduce their operations or sell a portion of their mined Bitcoin and reserves to stay afloat.

- In the last month, the price of Bitcoin fell 13% from $68,791 to $59,603, with signs of capitulation.

- The Bitcoin hash rate, which secures the network, has fallen 7.7% to a four-month low of 576 EH/s.

- Notably, this drop mirrors an equivalent decline in hash rate in late 2022, when the price of Bitcoin bottomed at $15,500 before rising more than 300% in the following 15 months.

Do you think we are near the bottom of the market? Or do you see more falls to come? Share your thoughts in the comments! 💭