📉 Bitcoin miners are feeling the pinch post-halving, with revenues hitting a low not seen since 2023. The slim profit margins have us wondering who'll weather the storm and how BTC's market price might react.

📊 According to CryptoQuant, Bitcoin's "Puell Multiple" took a nosedive right after the halving. This ratio, which compares daily BTC issuance value to its 365-day moving average, has dropped due to the halving of BTC issued to miners.

👀 As it stands, the multiple is at a mere 0.73, way below its 365-day average of 1.43. This means less competitive miners may have to switch off their rigs, making the remaining miners more profitable.

💰 Despite the squeeze, miners aren't rushing to sell their BTC. The halving day itself was a profitable one, thanks to the launch of Runes, a new protocol for minting tokens on Bitcoin. This caused network fees to skyrocket, giving miners a temporary revenue boost.

💭 So, what's next for our miners? Capitulation or waiting for a BTC price rise? Share your thoughts below! #Bitcoin #CryptoNews #DeFi 🚀