🔍CryptoQuant's latest report suggests Bitcoin miner capitulation metrics are nearing levels similar to post-FTX crash in 2022, hinting at a potential bottom for Bitcoin prices.📉

As Bitcoin's price fell 13% over the last month, signs of miner capitulation became more evident. The Bitcoin hashrate dropped 7.7%, mirroring a similar reduction seen in late 2022, which historically correlated with a market bottom.📉

But hey, let's not forget the subsequent 300% increase in Bitcoin's price over the next 15 months.💰🚀

Miners have been substantially undercompensated since the last Bitcoin halving, leading to a 63% reduction in daily revenues. This forced miners to dip into their reserves, resulting in increased daily outflows. But, they're not panicking yet, with outflows remaining below extreme levels.📊

The overall impact of these sales, along with those from Bitcoin whales and governments, has pressured Bitcoin's price to a four-month low. But remember, every cloud has a silver lining.🌈

What do you think? Is this the calm before the storm or just another day in the crypto world? Share your thoughts below!👇 #DeFi #Web3 #CryptoNews