According to Odaily, Ki Young Ju, the founder and CEO of CryptoQuant, has stated that the surrender of Bitcoin miners is still ongoing. Historically, this trend tends to end when the daily average mining value reaches 40% of the annual average. However, the current ratio stands at 72%.
Ki Young Ju anticipates that the cryptocurrency market will remain subdued for the next 2-3 months. Despite this, he maintains a long-term bullish outlook but advises caution to avoid excessive risk. This analysis provides a glimpse into the current state of the Bitcoin mining industry and the potential future trajectory of the cryptocurrency market.