CryptoQuant: Bitcoin miner capitulation indicator is close to the market bottom level after FTX crash

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ODAILY
07-03
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Odaily Odaily News: Bitcoin miners' capitulation indicator is close to the market bottom level after the FTX collapse. CryptoQuant data shows that daily miner revenue has dropped from $79 million earlier this year to $29 million, and computing power has dropped 7.7% since the halving. Bitcoin is currently trading at $60,300, down 13% in the past 30 days. CryptoQuant believes that as selling pressure intensifies, the market may rebound to around $70,000 again. The significant decline in miners' daily income and computing power shows that miners are facing severe challenges. (Coindesk)

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